This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Artesian Completes Purchase Of Cecil County Water Systems; Adds 1,500 Customers

Stocks in this article: ARTNA

Artesian Water Maryland, a subsidiary of Artesian Resources Corporation, announced today that it has completed the purchase of several Cecil County-owned water systems. The systems in the eastern portion of the county serve approximately 1,500 customers.

Through the agreement, which was originally negotiated in 2008, Artesian Water Maryland acquired the county water systems in Meadowview, Harbour View, Pine Hills and Route 7, including water facilities and distribution and transmission systems.

“We have been looking forward to this day for a number of years,” said Dian C. Taylor, chair, president and CEO of Artesian Resources, of the agreement. “We are excited to demonstrate our commitment to providing safe, reliable, affordable water service to our newest customers in Cecil County.”

The agreement was approved earlier this year by the Maryland Public Service Commission. Artesian paid Cecil County $2.176 million for the water systems.

Artesian has invested millions of dollars over the last several years in Cecil County to address pressing water infrastructure needs in the county’s designated growth corridor. The lack of a reliable water supply was cited in the 2007 Cecil County Growth Study as a primary challenge to the county’s ability to complete its economic development plans for the growth corridor.

Since then, Artesian has purchased the Carpenter Point and Mountain Hill water systems and extended water service to Whitaker Woods residents whose private wells went dry. The Mountain Hill water system also is providing water to new residents of Charlestown Crossing and will soon be supplying the water needed by Restoration Hardware, which is locating 150 jobs in Cecil County.

On the western end of the growth corridor, Artesian purchased the water system and assets of the Town of Port Deposit, including access to the Susquehanna River as a water supply. On the eastern end of the corridor, Artesian built an interconnection between its Delaware water utility subsidiary and the Town of Elkton and invested in system upgrades to ensure up to 1.5 million gallons of water a day to Elkton and sufficient additional capacity to serve Cecil County’s growth corridor as it develops.

1 of 2

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,756.83 -21.32 -0.12%
S&P 500 2,063.73 +2.50 0.12%
NASDAQ 4,752.76 +4.3640 0.09%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs