PWT and Genesys become the H2O Innovation Specialty Chemicals Group, Expand Sales Force and Manufacturing Capacity
06 Luglio 2021 - 2:00PM
(TSXV: HEO) – H2O Innovation Inc. (“H2O Innovation” or the
“Corporation”) is proud to announce that its two specialty chemical
business lines, PWTTM and Genesys®, came together on July 1, 2021,
to form the H2O Innovation Specialty Chemicals Group. The
Corporation will increase at the same time its sales force with the
addition of new territory managers and its manufacturing capacity
in its Cheshire (UK) facility. While both entities will continue to
exist in this new group, and there will be no changes to the
current product portfolio, the new combined management structure
will leverage the strengths of the leadership of Genesys and PWT.
It has been 18 months since H2O Innovation
completed the acquisition of Genesys International Ltd, with the
goal of eventually creating, with PWT, a single specialty chemicals
group with a common vision. Mr. Steve Chesters will lead this
team as Vice President and Managing Director, Ryan Furukawa will
assume the role of Vice President - Technology, Matt Armstrong will
become Vice President - Sales and Mazen Ellabban will take on the
position of Global Mining Industry Manager.
“This new structure will bring the wealth of
membrane knowledge that exists within both the PWT and Genesys
sales, research and manufacturing teams to all our customers. They
will also have access to a wider range of chemical products and
services. We are of course committed to respect agreements
currently in place as we look for every opportunity to bring the
synergy of the combined group to the market through our
distribution network”, stated Frédéric Dugré,
President and Chief Executive Officer of
H2O Innovation.
The specialty chemicals team has long considered
the benefits of local presence in high-potential regions, such as
Middle East and Asia. Starting July 1, 2021, Mr. Iqbal Ahmad will
represent H2O Innovation in Southeast Asia. Iqbal has developed a
tremendous level of expertise having worked extensively on
significant projects across these regions in his long tenure in the
water treatment industry. Currently based in New Zealand, he will
be responsible for supporting growth of Genesys and PWT
distributors, in part by continuing to implement the Corporation’s
Key Account strategy. Further hires in North America as well as
internationally are also expected by the end of the fiscal
year.
The Corporation is also very excited to announce
the expansion of operations in the Cheshire, UK, manufacturing
facility. A project is underway that will nearly double the
warehouse area, allowing the shop to manufacture PWT’s
dendrimer-based antiscalant, which will continue to be manufactured
in Vista, CA, USA, as well. The project will also expand the
capabilities of blending both Genesys and PWT powder products to
better serve European and Asian costumers, reduce shipping delays
as well as freight costs and improve gross profit by insourcing its
manufacturing.
“This project to expand our facility in the UK
is a strategic move which reduces the risks associated with having
a single point of manufacture for our dendrimer scale inhibitor. It
will also allow us to be more competitive on the products we sell,
to have better quality control, to enjoy better margins and to
reduce our water footprint. We are working towards being able to
manufacture all products from Genesys and PWT in either of our two
locations. By manufacturing and blending the right products in the
right location we will optimize freight and tariff costs”,
added Gregory Madden, Chief Strategy Officer of
H2O Innovation.
Prospective disclosuresCertain
statements set forth in this press release regarding the operations
and the activities of H2O Innovation as well as other
communications by the Corporation to the public that describe more
generally management objectives, projections, estimates,
expectations or forecasts may constitute forward-looking statements
within the meaning of securities legislation. Forward-looking
statements concern analysis and other information based on forecast
future results, performance and achievements and the estimate of
amounts that cannot yet be determined. Those forward-looking
statements, based on the current expectations of management,
involve a number of risks and uncertainties, known and unknown,
which may result in actual and future results, performance, and
achievements of the Corporation to be materially different than the
said forward-looking statements, such as the ability for the
Corporation to be successful in the integration of the combined
specialty chemicals group, to be more competitive and to sell
high-quality products at better gross margins. Information about
the risk factors to which the Corporation is exposed is provided in
the Annual Information Form dated September 23, 2020 available on
SEDAR (www.sedar.com).
About
H2O Innovation Innovation
is in our name, and it is what drives the organization. H2O
Innovation is a complete water solutions company focused on
providing best-in-class technologies and services to its customers.
The Corporation’s activities rely on three pillars: i) Water
Technologies & Services (WTS) applies membrane technologies and
engineering expertise to deliver equipment and services to
municipal and industrial water, wastewater, and water reuse
customers, ii) Specialty Products (SP) is a set of businesses that
manufacture and supply a complete line of specialty chemicals,
consumables and engineered products for the global water treatment
industry, and iii) Operation & Maintenance (O&M) provides
contract operations and associated services for water and
wastewater treatment systems. Through innovation, we strive to
simplify water. For more information, visit
www.h2oinnovation.com.
Neither TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) nor the NYSE Euronext Growth Paris accepts
responsibility for the adequacy or accuracy of this release.
Source: H2O Innovation Inc.
www.h2oinnovation.com
Contact: Marc
Blanchet+1 418-688-0170 marc.blanchet@h2oinnovation.com
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/28533380-9937-4764-a104-63a0a2655309
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