Aqua America’s Ohio Subsidiary Reaches Asset Purchase Agreement With City of Campbell to Acquire Water System
AQUA AMERICA (WTR)
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Source: Business Wire
BRYN MAWR, Pa.--(BUSINESS WIRE)--Aqua America Inc. (NYSE: WTR) announced today its Ohio subsidiary has signed an agreement with the City of Campbell, Mahoning County, to purchase the city’s water treatment plant and distribution system for $7.5 million. The system serves approximately 3,200 connections.Closing of the sale is anticipated in late 2019 upon approval by the Public Utilities Commission of Ohio.“This purchase will enable Aqua to bring benefits to the Campbell community by leveraging expertise in compliance, large-scale purchasing power and other efficiencies that can be realized with a larger, combined regional operation,” said Aqua America Chairman and CEO Christopher Franklin. “Purchasing private and municipally owned systems is about more than growth. It allows us to do our part to strengthen water and wastewater infrastructure in the communities we serve, something that’s vitally important for the future. At the same time, proceeds from the sale of a water or wastew
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