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Stock Market & Financial Investment News

News Breaks
May 16, 2014
14:02 EDTWTRAqua America subsidiary buys McHenry Shores Water System
Aqua America announced that its Illinois subsidiary has purchased the assets of the McHenry Shores Water Company in the City of McHenry, Illinois, for $427,000. The McHenry Shores system serves approximately 1,600 people and will be operated out of Aqua Illinois’ Northern Division office, which operates out of Wauconda. Aqua serves 175,000 people in 13 counties throughout Illinois. It is the seventh acquisition this year by an Aqua America subsidiary. Aqua plans to make about $1.3M of upgrades within the first five years including the replacement of water mains, valves, service lines and fire hydrants; refurbishing the 100,000-gallon elevated storage tank; constructing an iron removal plant to improve water quality; buying an on-site emergency power generator to ensure reliable service; the installation of supervisory control and data acquisition system to enable remote monitoring to identify any system failures in a timely manner; water meter upgrades and improving security.
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October 9, 2014
13:33 EDTWTRAqua America unit acquires assets of Spartan Village water systems
Aqua America announced that its New Jersey subsidiary, Aqua New Jersey, acquired the assets of the Spartan Village water and wastewater systems from Spartan Village for $1, with plans to invest approximately $375,000 for upgrades to distribution pipes, meters and the wastewater plant. The systems serve approximately 650 people in North Hanover Township and Wrightstown Borough, both in Burlington County where Aqua New Jersey currently serves three other communities. The transactions bring the number of regulated acquisitions Aqua America subsidiaries have completed this year to 13.

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