BRYN MAWR, Pa. - Philadelphia Suburban Corp., the largest publicly traded water utility in the United States, said Tuesday it plans to change its name to Aqua America Inc.
The new name reflects Philadelphia Suburban's transition over the past decade from a regional company in Philadelphia to one that serves 15 states, providing water and wastewater services to 2.5 million customers, said chairman Nicholas DeBenedictis.
"The name Aqua America is perfect for our new expanding footprint in the water utility sector as it clearly states our business focus and demonstrates our position as a large domestic water utility," he said in a statement.
The name change takes effect Oct. 10. The company's ticker symbol on the New York Stock Exchange will change from PSC to WTR.
Philadelphia Suburban currently operates in Connecticut, New York, Pennsylvania, Ohio, Illinois, Texas, New Jersey, Indiana, Virginia, Florida, Maine, North Carolina, Missouri, South Carolina and Kentucky. The Connecticut and New York subsidiaries are in the process of being sold.