VICTORIA, British Columbia, March 20, 2002 -- Flexible Solutions announced that Ondeo Nalco, a subsidiary of SUEZ, has signed a Letter of Intent to provide global manufacturing capacity for Flexible Solutions' Water$avr product.
Water$avr is an evaporative control powder that is self-spreading over the surface of reservoirs, canals and rivers. By retaining available water, WaterSavr provides more water at an applied cost as low as $.04 (.05 Euro) per cubic meter.
Patrick Grant, President of the Flexible Solutions' Water$avr Division, states, "In partnering with Ondeo Nalco on this project, we have found a company that can meet the quality manufacturing standards required for a NSF product. Additionally, they have access to regional capacities in various areas of the world, and total annual capability to manufacture up to 400 million pounds of Water$avr."
It is the intention of both companies to move quickly from the Letter of Intent toward a full manufacturing contract.
"Ondeo Nalco is a global leader in finding solutions in the international water market. Because Water$avr provides a unique solution to managing evaporation loss, we anticipate that both companies will be able to leverage their strengths in creating a successful partnership" said Dan Harker, Vice President of Supply Chain and e-Commerce for Ondeo Nalco.
The companies have also initiated licensing negotiations for Water$avr.
Ondeo Nalco, a subsidiary of Ondeo, the water division of SUEZ (NYSE:SZE - news), is the worldwide leader in water treatment and process chemicals with 10,000 employees working with more than 60,000 customers in 120 countries and annual revenues of $2.8 billion.
Ondeo is the premier water-related solutions provider with a presence in 130 countries supplying 115 million people with water and wastewater services, and has built more than 10,000 water treatment plants worldwide.
Flexible Solutions (OTCBB:FXSO - news; FRANKFURT:FXT) is an environmental biotechnology company engaged in the development and sale of energy and water conservation products.
