MERRIMACK, N.H., Sept. 24, 2007 (PRIME NEWSWIRE) -- Pennichuck Corporation (Nasdaq:PNNW) today announced that its Pennichuck Water Service Company subsidiary ("Service Company") has entered into new multi-year operating contracts with the owners of three New Hampshire-based water utility systems: Winnisquam Village (Tilton), The Vineyards (Stratham) and the Windham Cooperative Kindergarten (Windham).
Pennichuck will provide for the day-to-day operation and maintenance of these privately-owned water systems. Including these new contracts, the Service Company provides operation and maintenance services to 86 small community water systems and a host of non-transient, non-community water systems such as schools, office buildings and day care centers.
Pennichuck Water Service Company Vice President, Bernard Rousseau, stated, "We provide these operating services through our Pennichuck Water Works resource base so these small systems are able to benefit from our skilled workforce and our technological know-how in the same manner as do our larger systems."
Pennichuck Corporation is a holding company involved principally in the supply and distribution of potable water in southern and central New Hampshire through its three regulated water utilities. Its non-regulated, water-related activities include operations and maintenance contracts with municipalities and private entities in New Hampshire and Massachusetts. The Company's real estate operations are involved in the ownership, management and development of real estate in the greater Nashua, New Hampshire area.
Pennichuck Corporation's common stock trades on the Nasdaq Stock Exchange under the symbol "PNNW." The Company's website is at www.pennichuck.com.
This news release may contain certain forward-looking statements with respect to the financial condition, results of operations and business of Pennichuck Corporation. Forward-looking statements are based on current information and expectations available to management at the time the statements are made, and are subject to various factors, risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These factors include, but are not limited to, timing and results of eminent domain proceedings before the New Hampshire Public Utilities Commission; the impact thereof on consolidated business operations; legislation and/or regulation and accounting factors affecting Pennichuck Corporation's financial condition and results of operations; and, the impact of weather. Investors are encouraged to access Pennichuck Corporation's annual and quarterly periodic reports filed with the Securities and Exchange Commission for financial and business information regarding Pennichuck Corporation, including a more detailed discussion of these and other risks and uncertainties that could affect Pennichuck Corporation's forward-looking statements.