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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
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
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.
NEWS
June 26, 1999 | By Angela Couloumbis, INQUIRER STAFF WRITER
Chicago-based U.S. Water's final proposal to operate Camden County's sprawling wastewater treatment plant does not yield significant savings and would not be in the best interest of county taxpayers, the County Board of Chosen Freeholders said yesterday. Freeholder Director Jeffrey Nash said that when privatization talks began almost two years ago, the Camden County Municipal Utilities Authority had a bloated bureaucracy and budget, making such a move desirable. Since that time, however, the authority has dramatically slashed its operating budget, making it tougher for a private company to compete.
BUSINESS
September 19, 1991 | By Julia C. Martinez, Inquirer Staff Writer
When thirsty Pennsylvanians opened their taps during the steamy summer of '91, American Water Works opened its pipelines. When Illinois farmers pumped up their irrigation systems, American Water Works moistened their dry crops. And when Arizona parks filled up their public swimming holes, American Water Works soaked the fun spots. All through the summer, revenues at American Water Works Co. Inc. gushed. The Voorhees, N.J., holding company is in the business of water - pumping it out of rivers and underground reservoirs, making it potable and delivering it to homes, offices, factories and firehouses.
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.
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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.
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
March 6, 2014 | BY STEVE PAUL
  AS MANY as 300,000 West Virginians are still wondering whether it's safe to drink the water, more than a month after the local supply was tainted by a spill of industrial chemicals. In North Carolina, the full consequences are yet to be determined following the collapse of a pipe last month beneath a utility's coal-ash pond, which spewed tons of the toxic substance into the Dan River. Public health officials have warned residents to avoid river water and to forgo eating any fish.
BUSINESS
January 20, 2014 | By Chris Hepp, Inquirer Staff Writer
All businesses are at the mercy of their supply chain. Few are as vulnerable as a water utility. Witness West Virginia Water, a subsidiary of American Water Works Co. of Voorhees. On Jan. 9, a sweet licorice odor was noticed in the air around the Elk River as it wound its way south through Charleston, the state capital. The source was identified as 7,500 gallons of a chemical known as MCHM that had leaked from a 35,000-gallon tank belonging to Freedom Industries. The spill occurred less than a mile upstream from West Virginia Water's intake facilities.
BUSINESS
May 4, 2013 | By Andrew Maykuth, Inquirer Staff Writer
Aqua America's first-quarter earnings included some bonuses for shareholders and Pennsylvania water customers, but not for the tax collector. The Bryn Mawr water utility reported Thursday that its effective tax rate plunged from 39 percent to 14.6 percent, thanks to an accounting change it announced last year. Aqua's first quarter net income was $46.6 million, up 23 percent from $37.9 million in 2012. Income from continuing operations was 29 cents per share, up 53 percent from 19 cents a year ago. The company boosted earnings even though its Pennsylvania customers got a 2.8 percent rate cut on Jan. 1, it sold less water due to the cool winter, and its venture to supply water to Marcellus Shale hydraulic fracturing operations underperformed because of a slowdown in natural gas drilling.
BUSINESS
March 29, 2013
Aqua America Inc., the Bryn Mawr water utility, announced Thursday that it has completed the sale about 65 percent of its Florida assets in its ongoing effort to consolidate operations to eight states where it has a critical mass. Aqua sold 57 water systems and 23 wastewater systems in 12 counties to the Florida Governmental Utility Authority (FGUA) for $50.2 million. Separately, Aqua sold nine water systems and four wastewater systems to U.S. Water for $1.6 million, and one water system and one wastewater system that serve the Arredondo Farms community in Alachua County to YES Communities Companies L.L.C.
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