In the first six months of 2012, the company invested $171.4 million in infrastructure improvements as part of its capital investment program, compared to $141.3 million in the same period of 2011. “The company remains on track to invest more than $300 million in 2012. Our capital expenditures are focused on pipe replacement projects to improve our distribution network and plant upgrades to enhance water quality and service reliability for our customers,” said DeBenedictis.Aqua America remains committed to expanding its operations through its growth-through-acquisition program and has completed eight acquisitions to date in 2012. This includes the most recently announced acquisitions by Aqua America’s Pennsylvania subsidiary of the water and wastewater system assets of Total Environmental Solutions, Inc. ("TESI"), which serve approximately 2,300 people in the Beech Mountain Lakes Resort Community located in portions of Butler and Dennison townships, Luzerne County. The systems are operated by Aqua Pennsylvania’s White Haven Division, which currently provides water and wastewater service to about 20,000 people, including those in many Luzerne County municipalities. “The Beech Mountain community is an example of a tuck-in acquisition that fits nicely into our existing service territory, which already includes customers in Butler and Dennison townships,” said DeBenedictis. “Once again, we are acquiring assets and customers within our existing footprint and maximizing our economies of scale, which benefits our customers as well as the company."
Aqua America Reports Record Earnings For Second Quarter
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