NEWARK, Del., Feb. 28, 2017 (GLOBE NEWSWIRE) -- Artesian Resources Corporation (NASDAQ:ARTNA), a leading
provider of water, wastewater services and related services on the Delmarva Peninsula, today announced that it has entered into an
agreement with the Fort DuPont Redevelopment and Preservation Corporation, or FDRPC, for the purchase of existing water assets and
for the provision of potable water and fire suppression services.
The Fort DuPont National Historic District, or Fort DuPont, consists of 325 acres and lies between the Delaware
River on the east, the Chesapeake and Delaware Canal on the south and the Delaware City Branch Canal. The purchase includes a
water treatment plant, a storage tank, mains, and other equipment used to provide potable water and fire suppression services to
portions of Fort DuPont and surrounding properties. Artesian and Fort DuPont intend to design, build and operate a state of
the art, cost effective, safe and reliable water system that will include both new water assets as well as improvements and
upgrades to the existing water assets. The water system can be expanded to meet the needs of the planned 600 unit residential
community as well as retail development, in addition to water service currently provided to the Governor Bacon Health Center and
National Guard facilities.
“Artesian looks forward to partnering with the Fort DuPont Redevelopment and Preservation Corporation as it
redevelops the historic area located on the Delaware River between the Chesapeake and Delaware Canal and Delaware City,” said Dian
C. Taylor, Chair, President & CEO of Artesian Water Company, Inc. “It is the cooperative efforts of the State of Delaware,
Delaware City, the Fort DuPont Redevelopment and Preservation Corporation and Artesian that will create a vibrant community at this
historic site,” she said.
About Artesian Resources
Artesian Resources Corporation operates as a holding company of wholly-owned subsidiaries offering water,
wastewater services and related services on the Delmarva Peninsula. Artesian Water Company, Inc., the principal subsidiary,
is the oldest and largest investor owned water utility on the Delmarva Peninsula and has been providing water service since
1905. Artesian supplies 7.6 billion gallons of water per year through 1,260 miles of water main to approximately 301,000
people.
Contact: Nicki Taylor Investor Relations (302) 453-6900 ntaylor@artesianwater.com
