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BUSINESS
November 3, 1998 | By Rich Heidorn Jr., INQUIRER STAFF WRITER
On June 29, Philadelphia Suburban Corp. announced a $460 million acquisition that vaulted the Bryn Mawr company from third place to second among U.S. investor-owned water companies. The purchase of Consumers Water Co. was the 25th for Philadelphia Suburban since 1992, and the largest in the history of the U.S. water business - for about three months. Last month, American Water Works Co., of Voorhees, announced its own blockbuster: a $700 million acquisition that solidified its position as the nation's largest investor-owned water utility.
NEWS
July 30, 2010
American Water Works Co. Inc., Voorhees, said it raised its dividend by a penny, or 5 percent, to 22 cents a share. The new dividend, payable Sept. 1 to shareholders on Aug. 18, marks the second increase since the company had its initial public offering of stock in April 2008. American Water provides drinking water and wastewater services to 16 million people in the United States and Canada.    - Paul Schweizer
NEWS
August 5, 2016 | By Andrew Maykuth, STAFF WRITER
American Water of Voorhees said Wednesday it signed an agreement to acquire the Shorelands Water Company, a privately owned water utility serving more than 11,000 customer accounts in Monmouth County, N.J. The agreement, for an undisclosed price, is subject to the review and approval of the New Jersey Board of Public Utilities. Shorelands, founded 90 years ago to supply the summer residents of West Keansburg, now provides service to residents in Hazlet, Holmdel, Union Beach, Keyport and Aberdeen.
NEWS
February 19, 2016 | By Amy S. Rosenberg, Staff Writer
ATLANTIC CITY - Future control of its drinking water continued to vex this beleaguered seaside city Wednesday, as it faced a looming state takeover and unrelenting outside interest in its water utility. The City Council was set to vote on bringing the water authority under direct city control in an effort to both monetize it and stave off private interests. But after a closed-door meeting, the council voted to delay any vote for 90 days. Meanwhile, the current head of the Municipal Utility Authority, G. Bruce Ward, made a plea to keep the department an independent authority - but also said he planned to seek a "private partner" who would kick in $100 million to the authority.
BUSINESS
April 23, 2014 | By Andrew Maykuth, Inquirer Staff Writer
Pennsylvania American Water on Monday announced plans to buy 18 trucks fueled by compressed natural gas under terms of a $315,000 state grant funded from the Marcellus Shale impact fee. The new vehicles will be based in the water company's Scranton operations. Pennsylvania American last year launched a pilot with four CNG-powered pickup trucks in Punxsutawney and Coatesville. In November, it also received a $62,800 Alternative Fuel Incentive Grant from the state Department of Environmental Protection to convert 14 new light-duty trucks to CNG. This year's grant, financed by the impact fee paid by natural gas producers, was secured through a partnership with Greater Philadelphia Clean Cities Coalition, which serves 34 counties in eastern Pennsylvania to implement alternative fuel use in transportation.
NEWS
February 4, 2016 | By Amy S. Rosenberg, Staff Writer
New Jersey Senate President Stephen Sweeney told the Inquirer Editorial Board on Tuesday that he now wants Atlantic County to buy Atlantic City's much-coveted water utility, and to use its good credit to help the cash-strapped city pay off $160 million in tax refunds owed the Borgata Hotel & Casino. Sweeney noted that unlike downgraded Atlantic City and the State of New Jersey, the county's credit rating is solid. "They have access to markets," he said. "The county could do all that stuff," Sweeney said during a one-hour meeting, part of a tour of newspaper editorial boards to promote his plans for North Jersey casinos and Atlantic City intervention.
NEWS
January 21, 1993 | By Lara Wozniak, INQUIRER CORRESPONDENT
Faced with the rising costs and administrative headaches of running its own water company, city officials are thinking about putting the utility up for sale. "It's getting really tough" to operate the water company, said city administrator Ed Doczy. "We've either got to sell the system or, if we retain the company, we've got to figure out a way to make it more profitable. " Running its own water company requires the city to keep up with mandated testing regulations, meter reading and pipe repairs.
BUSINESS
September 28, 2009 | By Andrew Maykuth INQUIRER STAFF WRITER
American Water Works Co. Inc. is like a ship emerging from an eight-year storm. Smoother sailing is forecast. But the company is still emptying its bilge after taking on some water in the tempest. The Voorhees company, the nation's largest investor-owned water utility, has weathered quite a corporate adventure since German utility giant RWE AG initiated a $7.6 billion buyout in 2001. RWE paid a 36.5 percent premium to acquire American and merge it with its British water utility, investing two years getting regulatory approval for the deal.
BUSINESS
April 27, 1995 | By Andrew Maykuth, INQUIRER STAFF WRITER
American Water Works Co. Inc., of Voorhees, yesterday said it was buying the troubled water operations of Pennsylvania Gas & Water Co. for $409 million in what it called the most expensive water-utility acquisition ever. PG&W serves about 133,000 water customers in 62 communities in northeastern Pennsylvania, including Scranton and Wilkes-Barre. It was forced to invest heavily in filtration systems in the 1980s after its reservoirs became contaminated and customers got sick. "A lot of people in Scranton to this date won't drink the water," said Pennsylvania Consumer Advocate Irwin A. Popowski.
BUSINESS
April 29, 1995 | By Andrew Maykuth, INQUIRER STAFF WRITER
Water certainly looks like a liquid asset these days. American Water Works Co. Inc. yesterday reported a surge in first-quarter profits that it attributed to reductions in expenses and strong sales because of the mild winter. Earnings per share increased 27 percent to 38 cents. Three analysts survey by Zacks Investment Research had forecast earnings for the company in a range of 30 cents to 35 cents per share. The Voorhees utility, which announced on Wednesday that it was buying the water operations of Wilkes Barre-based Pennsylvania Gas & Water Co., also said its sales should increase this year if regulators approve the dozen rate increases it has pending across the country.
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NEWS
August 5, 2016 | By Andrew Maykuth, STAFF WRITER
American Water of Voorhees said Wednesday it signed an agreement to acquire the Shorelands Water Company, a privately owned water utility serving more than 11,000 customer accounts in Monmouth County, N.J. The agreement, for an undisclosed price, is subject to the review and approval of the New Jersey Board of Public Utilities. Shorelands, founded 90 years ago to supply the summer residents of West Keansburg, now provides service to residents in Hazlet, Holmdel, Union Beach, Keyport and Aberdeen.
NEWS
June 18, 2016 | By Andrew Maykuth, STAFF WRITER
Aqua America Inc., the Bryn Mawr water utility, has hired a 20-year veteran of the Philadelphia Water Department as its chief environmental officer. Christopher S. Crockett, the department's deputy commissioner, will be responsible for overseeing water quality and environmental compliance for all Aqua America's drinking water and wastewater systems in eight states. He will also manage Aqua's in-house laboratory and the company's water-quality services and water-resources engineering departments.
NEWS
February 19, 2016 | By Amy S. Rosenberg, Staff Writer
ATLANTIC CITY - Future control of its drinking water continued to vex this beleaguered seaside city Wednesday, as it faced a looming state takeover and unrelenting outside interest in its water utility. The City Council was set to vote on bringing the water authority under direct city control in an effort to both monetize it and stave off private interests. But after a closed-door meeting, the council voted to delay any vote for 90 days. Meanwhile, the current head of the Municipal Utility Authority, G. Bruce Ward, made a plea to keep the department an independent authority - but also said he planned to seek a "private partner" who would kick in $100 million to the authority.
NEWS
February 4, 2016 | By Amy S. Rosenberg, Staff Writer
New Jersey Senate President Stephen Sweeney told the Inquirer Editorial Board on Tuesday that he now wants Atlantic County to buy Atlantic City's much-coveted water utility, and to use its good credit to help the cash-strapped city pay off $160 million in tax refunds owed the Borgata Hotel & Casino. Sweeney noted that unlike downgraded Atlantic City and the State of New Jersey, the county's credit rating is solid. "They have access to markets," he said. "The county could do all that stuff," Sweeney said during a one-hour meeting, part of a tour of newspaper editorial boards to promote his plans for North Jersey casinos and Atlantic City intervention.
NEWS
December 23, 2015 | By Allison Steele, Staff Writer
Camden City Council members voted Monday to hand over operation of the water and sewer system serving most of the city to American Water, the state's largest private water utility. American Water is expected to take over from the current operator, United Water, in February. Before the unanimous vote, Council President Frank Moran said he believed American would remedy problems that have plagued the city for years, such as brown tap water in some parts of Camden. "We live in this great country.
NEWS
June 10, 2015 | By Allison Steele, Inquirer Staff Writer
Voorhees-based American Water Works has asked the New Jersey Economic Development Authority (EDA) for $164 million in tax credits to move its headquarters to Camden. The application is to be considered at Tuesday's meeting of the EDA at the Waterfront Technology Center in Camden. The EDA also will consider a request from a joint Rowan University/Rutgers-Camden board for $50 million to build a "health sciences" building in the city, according to the agenda. That building, on Broadway near Cooper Medical Center, would have classrooms, lab space and offices, and would house Rutgers-Camden's Center for Computational and Integrative Biology.
BUSINESS
June 5, 2015 | By Andrew Maykuth, Inquirer Staff Writer
Aqua America Inc. on Wednesday named Christopher H. Franklin, an executive vice president who oversees Aqua's utility operations, to replace longtime CEO Nicholas DeBenedictis. Franklin, 50, chief operating officer of Aqua's regulated water and wastewater operations, will take over on July 1. DeBenedictis, 69, who has been CEO since 1992, will become nonexecutive chairman of the Bryn Mawr company. Franklin, who followed DeBenedictis from Peco to the water utility in 1992, was instrumental in the transformation of the local company, then called Philadelphia Suburban Water, into Aqua America, which now has operations in eight states.
NEWS
April 20, 2015 | By Andrew Maykuth, Inquirer Staff Writer
Few of us are fond of mild, rainy summers like the one the Philadelphia region experienced last year. Nick DeBenedictis is definitely not a fan. DeBenedictis is chairman and CEO of Aqua America, the Bryn Mawr water utility that operates in eight states, including Pennsylvania and New Jersey. Wet summer weekends dampen demand: Too much free product falls from the sky. Gardeners don't water; cars don't get washed. "Two straight years, we've had pretty depressed sales," he said in an interview last week.
NEWS
November 22, 2014 | By Bonnie L. Cook, Inquirer Staff Writer
Earl Harold Graham, 92, a decorated World War II veteran and former president of the Philadelphia Suburban Water Co., died Wednesday, Nov. 12, of heart disease at his home in Pompano Beach, Fla. Mr. Graham was a longtime resident of Springfield, Delaware County, before retiring to Florida. Born in Philadelphia, he graduated from Northeast High School. After the Japanese bombed Pearl Harbor, he enlisted in the Army to fight in World War II. He was assigned to the 83d Infantry Division, 308th Combat Engineer Battalion.
NEWS
May 2, 2014 | By Bonnie L. Cook, Inquirer Staff Writer
Kenneth E. Shull, 97, formerly of Media, a chemist and executive for the Philadelphia Suburban Water Co., died Tuesday, April 22, of congestive heart failure at White Horse Village. Mr. Shull's enthusiasm for science started early and blossomed into a career choice, said his son, Dave. "When he was young, he built a laboratory in his basement. It was quite sophisticated," his son said. Mr. Shull worked for Philadelphia Suburban Water Co., now Aqua America Inc., in Bryn Mawr for 45 years, starting in 1938 as a chemist and bacteriologist, and becoming chief chemist and then superintendent of water treatment in 1956.
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