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Slide #5. The York Water Company — SYC Wastewater System
The York Water Company (NASDAQ:YORW)
SYC Wastewater System
On October 8, 2013, the Company signed its second wastewater acquisition agreement of 2013, to purchase the wastewater assets of SYC WWTP, L.P. in Shrewsbury and Springfield Townships, York County, Pennsylvania. Completion of the acquisition is contingent upon receiving approval from all required regulatory authorities. Closing is expected in the first quarter of 2014 at which time the Company will add approximately 30 commercial and industrial wastewater customers. The two new agreements signed in 2013 more than triple the size of the Company's wastewater business.
York Water is an investor-owned water utility. The primary business of Co. is to impound, purify and distribute water. Co. also owns and operates several wastewater collection systems and wastewater collection and treatment systems. Co. operates within its franchised water and wastewater territory, which covers portions of municipalities within various counties in south-central Pennsylvania. Co. is regulated by the Pennsylvania Public Utility Commission for both water and wastewater in the areas of billing, payment procedures, dispute processing, terminations, service territory, debt and equity financing and rate setting. Water service is supplied through Co.'s own distribution system.
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Strong Buy (4.00 out of 4)