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WKN: 541522 | Symbol: FXT
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DGAP-News: Flexible Solutions Intl. english

Ondeo Nalco and Flexible Solutions Sign Letter of Intent

Corporate-news announcement sent by DGAP. The sender is solely responsible for the contents of this announcement.


Ondeo Nalco and Flexible Solutions Sign Letter of Intent For Manufacture of Water$avr

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), 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, providing services to more than 60,000 industrial customers, and has built more than 10,000 water treatment plants worldwide. Flexible Solutions (NASDAQ - OTC:BB - "FXSO"; FRANKFURT "FXT") is an environmental biotechnology company engaged in the development and sale of energy and water conservation products.

end of message, (c)DGAP 21.03.2002


WKN: 541522; ISIN: US33938T1043; Index: Listed: Freiverkehr Frankfurt

Autor: DGAP import (),10:49 21.03.2002

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