January 3, 2013
Pennsylvania American Water announced Wednesday that it purchased two small "tuck-in" water systems in northeastern Pennsylvania in the final days of 2012 for $1.2 million. The company, a subsidiary of American Water Works Co. Inc. of Voorhees, acquired the water system serving the Fernwood Resort in Monroe County, which consists of about 570 time-share units and six commercial customers, including a hotel complex, a convenience store, and restaurants built around Fernwood's golf course.
December 24, 2012 |
Triumph Group Inc. of Berwyn has a market value of $3.2 billion and it generated $3.4 billion in revenue in its most recent fiscal year. Its global workforce numbers about 12,000, and it more than doubled in size in the last two years. Why doesn't this aerospace company appear on the Philly 50 list? I've heard that question - or similar ones involving locally based companies such as Airgas, American Water Works, and others - in the five weeks since the debut of the list of 50 public companies with large workforces in the Philadelphia area.
September 26, 2012
Aqua America Inc., the Bryn Mawr water utility that has been consolidating its operations to states where it has a critical mass, has offered to sell all of its Florida operations to the Florida Governmental Utility Authority for $95 million. The authority, which has 90,000 customers in several locations, has until November 30 to accept or decline the offer for Aqua's 82 water and wastewater systems, which have 38,000 customers. The proposal requires the buyer to retain all nonexecutive employees as a condition of sale.
February 28, 2012
In the Region Housing contracts on the rise Sales contracts for existing homes rose 2 percent nationally in January from December and were 8 percent above the first month of 2011, the National Association of Realtors said Monday. In the eight-county Philadelphia region, these "pending" sales, which typically go to settlement within 45 and 60 days of contract-signing, rose 20 percent from December and were 14 percent above January 2011, Prudential Fox & Roach HomExpert reported.
September 19, 2011
American Water Works Co. Inc., Voorhees, on Monday raised its 2011 earnings guidance to a range of $1.75 to $1.82 per share from the previous range of $1.65 to $1.75 per share. The nationwide utility company said the change is due mainly to an increase in sales during the very hot and dry July in the company's East Coast systems, favorable weather in the Midwest, cost efficiencies, and the continued expectations of a low interest rate environment. -Andrew Maykuth
June 17, 2011
American Water Works Co. Inc. of Voorhees on Friday increased its quarterly cash dividend payment by 5 percent, from $0.22 to $0.23 a share. The regular quarterly dividend is payable on Sept. 1 to shareholders of record as of Aug. 12. American Water's shares rose 28 cents, or 1 percent, to $29.06 in midday trading on the New York Stock Exchange. - Andrew Maykuth
June 16, 2011
Aqua America Inc., Bryn Mawr, on Thursday completed the $6 million acquisition of 51 water and five wastewater systems in Texas from American Water Works Co. Inc. of Voorhees. The systems serve 4,200 water and 1,100 wastewater customers in the greater Houston area. Aqua America last year purchased 10 systems and increased its customer base by about 6 percent in Texas. - Andrew Maykuth
May 19, 2011 |
Michael E. Horan, 42, of West Chester, a director of campus operations for Campbell Soup in Camden who once rescued a neighbor from a burning building, died of multiple myeloma, Sunday, May 15, at the Hospital of the University of Pennsylvania. Mr. Horan graduated from Springfield High School in Delaware County. He earned a bachelor's degree in civil engineering from Pennsylvania State University and was a member of Tau Kappa Epsilon fraternity. He began his career as a construction engineer with Fluor Daniel, then was a construction manager for American Water Works, and was senior project manager for AMEC Earth & Environmental.
January 25, 2011 |
American Water Works Co. Inc. of Voorhees on Monday said it was selling its operations in Arizona and New Mexico for $470 million, part of a strategic review of the company's utility assets under its new chief executive. American Water, the nation's largest investor-owned utility, is selling the water and wastewater operations to EPCOR Utilities Inc., a Phoenix company focused on utilities in the Southwest. Jeff Sterba, named in August as American Water's chief executive, said the revenue generated by the sale would go toward debt reduction.
November 29, 2010
A. John Shoraka has been named the Small Business Administration's regional administrator for Region III, which has headquarters in King of Prussia and covers Pennsylvania, Delaware, Maryland, West Virginia, Virginia, and the District of Columbia. Shoraka had been vice president at the Aries Group, a consulting firm in Silver Spring, Md. Opportunity Finance Network, Philadelphia, said Cathy Dolan had joined as the new chief operating officer. Dolan had been senior vice president and director of community lending and investment for the eastern United States for Wells Fargo & Co. OFN is a network of private financial organizations assisting low-income people.