March 20, 2002
FLEXIBLE SOLUTIONS INTERNATIONAL INC.
|NASDAQ - OTC:BB - "FXSO"||
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, 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.
For more information please contact :
|David Katzov or Grant Moonie||In Vancouver: Steve McGuire||In Europe: Holtermann & Team|
|Corporate Communications||(604) 605 6037||49-69-219313-0|
|Flexible Solutions Intl. Ltd|
|(250) 477 9821|
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