H2O Innovation Increases its Ham-Nord (Quebec) Manufacturing Capacity by 40%
April 19 2021 - 8:00AM
(TSXV: HEO) – H2O Innovation Inc. (“H2O Innovation” or the
“Corporation”) is pleased to announce the expansion of its
manufacturing plant in Ham-Nord (Quebec) to respond to the
sustained growth of its Maple business line and the anticipated
increase in water treatment project sales. Following the conclusion
of a lease agreement, the new 21,390 square-foot space, adjacent to
the current plant, will be ready as of May 1, 2021.
The H2O Innovation manufacturing plant located
in Ham-Nord, near Victoriaville, is primarily responsible for the
design of maple equipment and products as well as water and
wastewater treatment systems. In recent years, the space available
for manufacturing and storage had become insufficient and
problematic. The increase of nearly 40% in manufacturing area in
this location positions the Corporation to support future growth.
The lease agreement for the new area is for an initial term of five
(5) years with a renewal option for five (5) additional years.
This new location will allow workstations to be
redesigned to support the continued growth of the Maple and Water
Technologies & Services (“WTS”) business lines. The Corporation
expects considerable productivity gains, better inventory
management, and improved safety for employees who will be working
in less congested spaces. Local teams will also be able to proceed
with new hires to support the pace of project delivery.
“The Maple business line has had a superb season
and we are really satisfied with the success of several new
products this year. In accordance with our 3-Year Strategic Plan we
intend to continue to expand our customer offering. We plan to also
evolve in the food & beverage market by leveraging our
expertise in the concentration of sugar solutions and the
agricultural market where our technologies can optimize soil
irrigation. This increase of our manufacturing capacity will allow
us to better meet the future needs of our
customers”, stated Frédéric Dugré, President and CEO
of H2O Innovation.
Prospective disclosures Certain
statements set forth in this press release regarding 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 Company to be
materially different than the said forward-looking statements.
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) Operations & 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
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