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Birmingham Utilities, Inc. and Birmingham H2O Services, Inc. Agree to Purchase AquaSource Connecticut and New York Operations from Philadelphia Suburban Corporation.

Publication: Business Wire
Publication Date: 20-MAY-03
Format: Online
Delivery: Immediate Online Access

Article Excerpt
Business Editors

ANSONIA, Conn.--(BUSINESS WIRE)--May 20, 2003

Birmingham Utilities, Inc. and Birmingham H2O Services, Inc., wholly-owned subsidiaries of BIW Limited (AMEX - BIW), announced today that they have executed a definitive agreement with Philadelphia Suburban Corporation (NYSE: PSC) to purchase the regulated and non-regulated Connecticut operations and the regulated New York operations of AquaSource, Inc., for a purchase price of approximately $5,000,000.

The closing of the transaction is contingent upon PSC's purchase of the AquaSource utility systems (which include the Connecticut and New York...

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