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

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.

“With the completion today of the purchase of the Cecil County water systems, Artesian now has the capability and capacity to provide end-to-end water service throughout the county’s growth corridor,” Taylor said. “We are proud that in just a few years, we have built a water system that will enable Cecil County to attract new jobs for county residents and direct economic development to the designated growth corridor.”

About Artesian Resources

Artesian Resources Corporation operates as the holding company of eight wholly-owned subsidiaries offering water, wastewater and engineering services on the Delmarva Peninsula. Artesian Water Company, the principal subsidiary, is the oldest and largest investor-owned public water utility on the Delmarva Peninsula and has been providing water service since 1905. Artesian Water distributes and sells water to residential, commercial, industrial, governmental, municipal and utility customers. Other subsidiaries include Artesian Water Maryland, Inc.; Artesian Water Pennsylvania, Inc.; Artesian Wastewater Management, Inc.; Artesian Wastewater Maryland, Inc.; Artesian Utility Development, Inc.; Artesian Consulting Engineers, Inc.; and Artesian Development Company.

Copyright Business Wire 2010

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