BRYN MAWR (BUSINESS WIRE) - Philadelphia Suburban Water Company (PSW), the largest subsidiary of Philadelphia Suburban Corporation, announced today that it has purchased the Fulmor Heights water system in a transaction valued at $160,000.
Fulmor Heights serves approximately 1,000 residents in the development of the same name in Hatboro Borough, Montgomery County.
PSW paid the association $40,000 in cash and will make approximately $120,000 of capital improvements to the system including new pipe, 15 new fire hydrants, and new individual meters with automatic reading devices for each of the 310 homes. The community will benefit from improved water pressure and fire protection as a result of the planned capital improvements.
The acquisition is the fourth growth venture announced by PSC this year. The others are:
PSC is one of the largest investor-owned water utilities in the nation and serves nearly two million people through its water and wastewater utility operations in Pennsylvania, Ohio, Illinois, New Jersey and Maine.
Contact: Philadelphia Suburban Corporation Donna Alston, Director, Communications, 610/645-1095 email@example.com