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Essential Utilities¡¯ Aqua Pennsylvania Subsidiary Acquires Shenandoah Water System
Essential Utilities Inc. (NYSE: WTRG) today announced its Aqua Pennsylvania subsidiary completed the purchase of the Municipal Authority of the Borough of Shenandoah (MABS) water system for $12 million. MABS serves approximately 3,000 customers in Schuylkill County, PA.
¡°Our customers deserve a reliable system with consistently high water quality,¡± said James Rusin, MABS Chairman. ¡°Getting there requires the expertise, technology resources, and operational skill that Aqua brings. It was equally important to choose someone who is committed to be part of our community.¡±
¡°We have a long history of municipal partnerships, and we are looking forward to partnering with the leadership and customers of MABS,¡± said Essential Chairman and CEO Christopher Franklin. ¡°We are proud of our track record of making appropriate capital and operating changes to ensure that all of our customers receive clean, safe, reliable water. And we¡¯re delighted to increase our commitment to Schuylkill County.¡±
Parts of the Shenandoah system¡¯s water infrastructure date back to the 1800s. MABS currently has $5.5 million in debt and the system deals with frequent outages and main leaks. Water loss is estimated at some 60 percent.
More than $23 million of planned investments in 10 years
Essential plans to invest more than $23 million in MABS over the next 10 years, including $10 million to replace water mains. The infrastructure improvements promise system-wide cost savings over time by:
increasing reliability and reducing water loss
improving water quality
improving operational efficiency and environmental performance
All full-time MABS employees were offered employment at Aqua, after completing the company¡¯s standard hiring process.
The transaction adds to Essential¡¯s regional footprint and builds on the company¡¯s strategy to grow by investing in infrastructure that delivers clean, safe, and reliable natural resources – in this case water and wastewater treatment – to residential and commercial customers.
Shenandoah´Â 2023³â EssentialÀÇ ±ÔÁ¦ ´ë»ó ¹° ºÎ¹®¿¡¼ ¿Ï·áÇÑ ¼¼ ¹ø° ÀμöÀ̸ç Aqua Pennsylvania¿¡¼ ÀμöÇÑ µÎ ¹ø° ½Ã½ºÅÛÀÔ´Ï´Ù. Á¾ÇÕÀûÀ¸·Î, ÀÌ·¯ÇÑ Àμö·Î ¿äÀ² ±â¹ÝÀÌ 3,750¸¸ ´Þ·¯ ÀÌ»ó Ãß°¡µÇ¾ú°í °ÅÀÇ 9,000¸íÀÇ ½Å±Ô °í°´ ¶Ç´Â ÀÌ¿¡ »óÀÀÇÏ´Â ÁÖÅÃÀÌ È¸»çÀÇ ÀÔÁö¿¡ Ãß°¡µÇ¾ú½À´Ï´Ù. ¶ÇÇÑ È¸»ç´Â ÇöÀç ±âÁ¸ 4°³ ÁÖ¿¡¼ 8°³ÀÇ »óÇϼöµµ ½Ã½ºÅÛÀ» ÀμöÇϱâ À§ÇØ 7°³ÀÇ ±¸¸Å °è¾àÀ» ü°áÇß½À´Ï´Ù. ÀÌ·¯ÇÑ ½Ã½ºÅÛÀº 210,000¸í ÀÌ»óÀÇ µ¿µîÇÑ ¼Ò¸Å °í°´ ¶Ç´Â °ÅÀÇ 3¾ï 4,300¸¸ ´Þ·¯ÀÇ ±¸¸Å °¡°ÝÀ¸·Î µ¿µîÇÑ ÁÖ°Å ´ÜÀ§¸¦ ³ªÅ¸³À´Ï´Ù.
[Ãâó = Essential Utilities ( https://www.essential.co/news-releases/news-release-details/essential-utilities-aqua-pennsylvania-subsidiary-acquires-0 ) / 7¿ù 27ÀÏ]
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