American Water Works Co. said recently that its financing subsidiary, American Water Capital Corp., has closed an offer of $45.4 million in tax-exempt water revenue bonds issued by Owen County, K.Y. The bonds pay 6.25 percent interest and mature June 1, 2039. Proceeds from their sale will be used to repay short-term debt related to the construction of a water treatment and transmission plant in Owen County, as well as to pay the remaining costs of building and equipping the plant. American Water provides drinking water and waste-water and other services to 15 million people in 32 states and Ontario, Canada. Itís based in Voorhees, N.J. (Source: Philadelphia Business Journal, 6/23/2009)

Aqua America Inc. recently said that its Texas and Indiana operating subsidiaries had purchased three water and wastewater systems for $260,000. Aqua Texas Inc. bought the Spring Hill Water Co. and the Holiday Estates water system for $125,000 in two separate transactions. The Spring Hill Water Co., which Aqua Texas has operated since 1998, serves nearly 500 residents in the Krum and Ponder areas of Denton County, which are in a high-growth area known as the Alliance Corridor. The Holiday Estates water system serves more than 200 residents on Lake Tawakoni in Hunt County in eastern Texas. Aqua Texas plans to install new radio-frequency water meters for customers in both systems. Aqua Indiana Inc. acquired Heir Industries Inc., a wastewater utility that serves roughly 300 residents near Borden in Clark County for $135,000. The system was first developed in 1972 to serve the Southern Hills Subdivision. A 40,000 gallon per day treatment facility that has the capacity to serve nearby planned residential developments was added in 1996. Aqua America of Bryn Mawr, P.A., owns and operates water and wastewater systems in 13 states. (Source: Philadelphia Business Journal, 7/15/2009)

Check casher and payday lender Dollar Financial Corp. announced it has acquired two pawn shops located in Edinburgh and Glasgow, Scotland. The two stores were established in 1830 and primarily deal in loans securitized by gold jewelry and fine watches, while offering traditional secured pawn lending for other items. Terms of the transaction were not released and Dollar did not identify the seller. "The acquisition of these stores expands and extends our pawn lending business and further strengthens our position as the third largest pawn lender in the United Kingdom," Dollar Financial Chairman and CEO Jeff Weiss said. "Pawn lending in the U.K. is a tradition that goes back hundreds of years and is widely accepted as a mainstream source of credit, while at the same time is a profitable source of securitized consumer lending revenue for our business." (Source: Philadelphia Business Journal, 7/8/2009)

Subaru of America said recently that its sales rose 3 percent since June 2008. Subaru continues to hold up well against rival car makers. June sales were off 33 percent for General Motors, 42 percent for Chrysler, and 11 percent for Ford. General Motors and Ford have closed factories while they work through Chapter 11 bankruptcy. Asian automakers Toyota and Nissan reported declines of 32 percent and 23 percent, respectively. Subaru sold 18,620 vehicles in June, up from 18,007 a year earlier. Year to date, sales were down 1 percent. The Cherry Hill, N.J.-based car company, which is owned by Fuji Heavy Industries of Japan, is best known for producing sporty sedans and crossovers, and for offering standard all-wheel drive on all models. Subaru's best-selling model, the Forester, has sold 36,158 vehicles year to date, a 31 percent increase over the first six months of 2008. The Legacy followed with 12,677 models sold, an 11 percent increase. In June, the winners were the Legacy, with a 28 percent increase, and the Impreza models, which sold 24 percent more over last year. The Outback slipped 21 percent and the Tribeca SUV was down 27 percent. (Source: Philadelphia Business Journal, 7/2/2009)

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