Flexible Solutions International Inc. (FSI) announced results from a potable water trial of its WaterSavr(TM) product on an Australian reservoir used to store drinking water. FSI is the developer and manufacturer of cost-effective, environmentally safe, biodegradable, and patented water technologies. FSI's evaporation control products are used to reduce water loss in arid climates, reduce energy loss from public and private swimming pools and cause spreading of desired particles across water surfaces. The Company's bio-polymers are utilized in agricultural nutrient availability, oil industry scale prevention and as suspension agents in the detergent industry. [ more ]
May 2006 Archives
Universal Communication Systems Inc. (UCSY.OB) announced the development of a new AW-2000M, a larger Mobile Air to Water Generator capable of producing between 2000-3000 liters daily of clean, clear and purified drinking water for delivery to the authorities in Southern Africa. In addition, AirWater is to ship an upgraded version of the AW-1000M to Thailand for presentation and evaluation by the Thai Army and other Official bodies. [ more ]
Aqua America, Inc. (WTR) announced that it has reached an agreement with Utilities & Industries Corp., LLC to acquire New York Water Service Corporation in a transaction valued at $51 million. Aqua America will pay $28 million in cash to acquire the stock of the company and assume $23 million in debt.
New York Water Service provides public water to approximately 135,000 residents in the well established, populated area of southeastern Nassau County, Long Island, New York in the communities of Merrick, North Merrick, Bellmore, North Bellmore, Wantagh, Seaford, and portions of Levittown and Massapequa. [ more ]
Connecticut Water Service Inc. (CTWS) announced that it agreed to buy up to 1 million gallons of water a day from the South Central Connecticut Regional Water Authority.
Financial details of the agreement were not disclosed. Connecticut Water said that it would have cost much more to develop access and obtain the permits to tap an additional 1 million gallons of water per day for customers in Guilford.
The agreement lasts for 50 years, and can be renewed in 20-year blocks thereafter. Connecticut Water shares rose 27 cents to $25.63 in afternoon trading on the New York Stock Exchange.
Artesian Resources Corp. (ARTNA) announced today at the Company's Annual Shareholders' meeting a three for two split on the company's common stock, to be effected in the form of a 50% stock distribution. Shareholders of record on May 30, 2006, will receive one additional share for each two shares held.
The Board on April 26, 2006 approved a 2.4%, or a $0.02 annual increase in the Class A Non-Voting and Class B Common shareholders' dividend. The quarterly dividend of $0.2285 per share is payable May 26, 2006 to shareholders of record at the close of business on May 10, 2006. The cash dividend will be paid prior to the stock split. [ more ]
Consolidated Water Co. Ltd. (CWCO) announced that its Board of Directors has declared a quarterly cash dividend of $0.06 per share.
The dividend is payable July 31, 2006 to shareholders of record at the close of business June 30, 2006. [ more ]
Aqua America, Inc. (WTR) has gained a fan at Motley Fool.
I've been beating the drum on water as an investment idea for a while now, but I haven't actually bought any company that's a pure play on the space. Why? Well, valuations have gotten a little too healthy... Aqua America continues to draw my interest. After rising more than it probably deserved, it's now sliding further (and faster) than it probably should, given its underlying numbers. [ more ]
Consolidated Water Co. Ltd. (CWCO) reported record revenues and earnings for the first quarter of 2006. For the quarter ended March 31, 2006, total revenue increased 52.6% to approximately $9.2 million, compared with approximately $6.1 million in the first quarter of 2005. Net income increased 124% to $3,078,011, or $0.24 per diluted share, versus $1,374,051, or $0.115 per diluted share, in the quarter ended March 31, 2005. [ more ]
Veolia Environnement SA (VE) announced that they have been selected to continue managing its 90-million gallon per day (MGD) water treatment system in Alpharetta, Ga., under an $18.5 million partnership agreement. The commission's decision extends the 15-year partnership for another five years with the option of two, two-year renewals. [ more ]
Forbes.com has written an article about an upcoming IPO for Basin Water. It discusses many of the companies in this sector and the potential for this new IPO.
Basin Water is a small company with a small IPO led by a regional underwriter. The opening pop won't be hefty, but the company's long-term returns could be substantial. This deal requires guts and is worth a long look. [ more ]
