Artesian Water Company, Inc. announces acquisition of Town of Frankford Water System
NEWARK, Del., April 13, 2020 (GLOBE NEWSWIRE) -- Artesian Water Company, a subsidiary of Artesian Resources Corporation (NASDAQ: ARTNA) announces its acquisition of the water system of the Town of Frankford in Sussex County, Delaware on April 2, 2020. Artesian has been providing high quality water service in Delaware for 115 years, and now will provide Frankford improved water quality, access to a 24/7 emergency dispatch center, excellent customer service with transparent bi-monthly bills and expert local staff ready to respond quickly. Artesian has invested approximately $44 million over the past three years in water and wastewater infrastructure in Sussex County and will continue to make future investments. This acquisition is a culmination of Artesian’s strategic efforts to focus on Sussex County’s growth and highlights the success of Artesian’s public-private partnerships throughout the state of Delaware.
Artesian’s focus on growth in Sussex County has centered on creating a larger regional water system, interconnecting existing systems to new service territories for additional reliability. The Town of Frankford is located near Artesian’s Greater Dagsboro Water Treatment Plant, currently under construction in Dagsboro, which will provide an additional supply of 2.0 million gallons per day to the region. Over 7 miles of new water main and 45 fire hydrants will be constructed in this regional system, interconnecting the Town of South Bethany to Frankford and Dagsboro, covering 20 square miles of service territory and serving nearly 6,000 customers.
“Artesian’s investments in Sussex County and securing this latest acquisition has positioned us to continue to expand our service territory, interconnecting this larger regional area with high quality and reliable water service,” said Dian C. Taylor, President and CEO. The completion of this acquisition is Artesian’s 5th over the past three years, including the water systems of the Slaughter Beach Water Company, High Point, Cantwell, Odessa and Historic Fort DuPont.
Artesian’s Southern Office is located in Milton, where local staff with many years of experience are headquartered and ready to apply their operational knowledge for the benefit of the Town. Artesian welcomes the residents of Frankford as customers, providing them our commitment to deliver safe, high quality water and reliable service as we have been providing our customers throughout Delaware for over 115 years.
About Artesian Resources
Artesian Resources Corporation operates as a holding company of wholly-owned subsidiaries offering water and wastewater services, and related services, on the Delmarva Peninsula. Artesian Water Company, the principal subsidiary, is the oldest and largest regulated water utility on the Delmarva Peninsula, with offices in Newark and Milton, and has been providing water service since 1905. Artesian supplies 8.3 billion gallons of water per year through 1,331 miles of water main to nearly a third of Delaware residents.
Contact:
Virginia Eisenbrey
Communications
(302) 453-6900
