Alternext: MNEMO: ALHEO
QUEBEC CITY, May 28, 2013 /CNW Telbec/ - (TSXV: HEO) - H2O Innovation Inc. ("H2O Innovation" or the "Company") announces today that it is now a partner in the Rockwell Automation OEM Program, part of the Rockwell Automation PartnerNetwork and that it has terminated the joint venture with its partner in India.
Rockwell Automation OEM Program
The Rockwell Automation PartnerNetwork is an elite group of about 80 companies worldwide that have demonstrated exceptional design, delivery and innovation. H2O Innovation earned the right to partner with such world class organization by demonstrating its ability and strong knowledge to integrate Rockwell Automation knowledge base in control and automation for its custom-built water treatment systems. H2O Innovation is currently the sole partner of the Rockwell Automation PartnerNetwork dedicated to the development of integrated water treatment solutions.
The Rockwell Automation PartnerNetwork framework offers global manufacturers access to a collaborative network of companies mutually focused on developing, implementing and supporting best-in-breed solutions to achieve plant wide optimization, improve machine performance, and meet sustainability objectives.
With the Rockwell Automation OEM Program, H2O Innovation will benefit from the latest innovation and technology advancements and will be able to offer its clients competitive pricing. "Rockwell Automation is a recognized world leader in automation and power equipment. With this agreement, we will strengthen our existing strong partnership with Rockwell Automation, into something more powerful for the benefit of our customers. H2O Innovation's customers present and future, will be offered a wider scope of products and expertise for automation and control equipment for their entire system including water intake, pre-treatment, distribution and storage management. Our global offer will be enhanced by this partnership to the benefit of municipal, industrial and commercial end-users. H2O Innovation is very proud to be part of this select partnership" stated Frédéric Dugré, President and Chief Executive Officer of H2O Innovation.
Termination of the Joint Venture in India
H2O Innovation has decided to terminate its participation in the joint venture in India, created three (3) years ago under the name H2O Innovation India Limited and announced on February 1, 2010. This decision has been taken since the sales objectives initially established have not been met. H2O Innovation India Limited required a lot of attention and resources and the impact on the revenues and earnings of the Company were very insignificant.
Certain statements set forth in this press release regarding the operations and the activities of H2O Innovation 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 Company is exposed is provided in the Annual Information Form dated September 25, 2012 available on SEDAR (www.sedar.com).
About Rockwell Automation
Rockwell Automation, Inc. (NYSE: ROK), the world's largest company dedicated to industrial automation and information, makes its customers more productive and the world more sustainable. Headquartered in Milwaukee, WI, Rockwell Automation employs over 22,000 people serving customers in more than 80 countries. For more information on the Rockwell Automation PartnerNetwork framework, visit: www.rockwellautomation.com/partners.
About H2O Innovation
H2O Innovation designs and provides state-of-the-art, custom-built, and integrated water treatment solutions based on membrane filtration technology to municipal, energy & natural resources end-users. H2O Innovation also provides a complete line of specialty chemicals and consumables for membrane filtration and reverse osmosis systems. For more, 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 Alternext Exchange accepts responsibility for the adequacy or accuracy of this release.
SOURCE: H2O Innovation Inc.
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