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!

Pennsylvania American Water Closes Three New Acquisitions To Expand Water, Wastewater Footprint

Stocks in this article: AWK

Pennsylvania American Water, a subsidiary of American Water (NYSE: AWK), announced today that it has closed three acquisitions and purchased the assets of water and wastewater systems serving a combined total of approximately 2,100 people. The total transaction amount of the newly acquired systems is approximately $6.9 million.

In Pike County, Pennsylvania American Water acquired the Clean Treatment Sewage Company in Delaware Township that serves approximately 1,000 residents in the Marcel Lakes Estates development. The transaction’s closing is the culmination of a May 2012 ruling by the Pennsylvania Public Utility Commission (PUC) that ordered Pennsylvania American Water to acquire the troubled wastewater operation. Since February 2005, the Clean Treatment system has been subject to a moratorium preventing additional connections due to inflow and infiltration issues and overflows in the collection system.

In its ruling, the PUC required Pennsylvania American Water to submit a plan for system improvements to the PUC and Pennsylvania Department of Environmental Protection. The company’s plan will upgrade the sewer system’s treatment and collection facilities over the next four years. Pennsylvania American Water already supplies drinking water service to residents of Marcel Lakes Estates.

“The Clean Treatment acquisition represents a challenge but also a significant opportunity for our company – and a real plus for the customers,” said Pennsylvania American Water President Kathy L. Pape. “We appreciate that the Public Utility Commission recognizes our track record in taking over troubled systems and committing the technical expertise and resources needed to bring these operations into regulatory compliance.”

Pape said, “Once we’re able to address the many operational and environmental issues, we look forward to getting permission to lift the moratorium and bring wastewater service to many of the available lots in Marcel Lakes Estates that have been in limbo for years.”

Also in Delaware Township, Pike County, the company acquired a private water system serving nearly 300 residents of the Pocono Mountain Lake Forest Estates development.

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 18,053.71 +23.50 0.13%
S&P 500 2,088.77 +6.89 0.33%
NASDAQ 4,806.8590 +33.3870 0.70%

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