**[investwise]** Chembond India (BSE 530871)-Critical Water Treatment Solutions

 

Chembond Chemicals Limited of Mumbai, India, ("Chembond"), a leading manufacturer and supplier of specialty performance chemicals to industries across India and H2O Innovation Inc. of Quebec City, Canada, ("H2O Innovation), a complete water treatment solutions company providing custom designed high performance systems for municipal, commercial, and industrial applications, announced the execution of a joint venture agreement to create H2O Innovation India Limited ("H2O Innovation India"), a company dedicated to providing water treatment systems and maintenance services to industrial, commercial and residential markets. H2O Innovation India is the first operational base outside of North America. Creating this joint venture is a strategic complement to our growth strategy aimed at increasing our international sales and in particular our level of industrial and commercial sales. We are confident that H2O Innovation India will be successful in pursuing niche opportunities and applications and look forward to start working immediately with our new partners", stated Frédéric Dugré.   H2O Innovation India would design, manufacture, service and undertake O&M contracts for water and wastewater treatment equipment. "The focus would be on providing cost-effective and practical solutions for industrial wastewater reclamation and reuse, production of boiler feed and process water, as well as for wastewater treatment for re-use in residential, commercial and institutional segments.   We would build on H2O Innovation's experience in designing and building sea water desalination, brackish water treatment and municipal water treatment plants and leverage that experience in India", added Nirmal Shah, Managing Director of H2O Innovation India Limited.   Chembond will own 51% of the shares of the joint venture and H2O Innovation will own the remaining 49%. Throughout India, Chembond operates five manufacturing plants and five sales offices and serves a roster of leading manufacturing companies–Indian and international–in several industries but particularly in the automotive assembly, refining and petrochemical, power generation, steel and construction.   The addition of Chembond's client base with H2O Innovation's knowledge and expertise in custom-designed and packaged water treatment systems for industrial and commercial applications will be of core importance to the success of the joint venture.   About Chembond Chemicals Limited   Founded in 1975, Chembond Chemicals Limited has headquarters in Mumbai and focuses on the speciality chemicals segment. The company is listed on the Mumbai Stock Exchange (BSE: CHEMBOND) and has an established presence across India. It operates four divisions – construction chemicals, coatings, trading and biotechnology; and two joint ventures – Henkel Chembond Surface Technologies Ltd. and Chembond Ashland Water Technologies Ltd.   Chembond has been growing consistently over the years on the strength of its technology and service capabilities and counts over 500 employees. More information on Chembond Chemicals Limited can be found on Chembond's website at www.chembondindia.com.   About H2O Innovation Inc.   With 10 years of experience developing water treatment solutions, H2O Innovation is establishing itself as a key player in sustainable development and clean technologies in North America and abroad. H2O Innovation designs, develops, produces, and integrates state-of-the-art custom-built water treatment systems for the production of drinking water, the reclamation of water, the treatment of wastewater and industrial process water in the municipal, commercial, industrial, oil & gas, mining, and energy markets.   Additionally, the Company offers complete operating and maintenance solutions for membrane filtration and reverse osmosis systems. H2O Innovation has approximately 100 employees and eight offices including three manufacturing and assembly plants in Canada and the United States. Shares of H2O Innovation are listed on the TSX Venture Exchange (HEO) as well as on the NYSE Euronext Alternext Exchange (MNEMO: ALHEO).   Safe Harbor Statement: Some forward looking statements on projections, estimates, expectations & outlook are included to enable a better comprehension of the Company prospects. Actual results may, however, differ materially from those stated on account of factors such as changes in government regulations, tax regimes, economic developments within India and the countries within which the Company conducts its business, exchange rate and interest rate movements, impact of competing products and their pricing, product demand and supply constraints.   Nothing in this article is, or should be construed as, investment advice.

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