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ALLETE Completes Sale of North Carolina Water Systems

June 03, 2004

ALLETE, Inc., announced that it has completed the sale of its North Carolina-based water and wastewater systems, Heater Utilities, Inc., to Aqua America, Inc. for $48 million in cash and the assumption of approximately $28 million in debt by Aqua America. The North Carolina Utilities Commission approved the transaction on May 26. The agreement to sell Heater Utilities to Aqua America was announced in November of 2003. At that time, Aqua America was known as Philadelphia Suburban Corporation.
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During her 18-year career with PHH, Patsy Mance worked in a variety of positions at the Hunt Valley, Md., headquarters office until 1974, when she was promoted to account executive and assigned to a field position in New York City.

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