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H2O Innovation (TSXV:HEO) announces 40% capacity increase at its Ham-Nord manufacturing plant

Utility
TSXV:HEO
19 April 2021 15:30 (EDT)

H2O Innovation has expanded its manufacturing plant in Ham-Nord, Quebec, which will be ready to begin production by May 1, 2021.

The plant is primarily responsible for the design of maple equipment and products as well as water and wastewater treatment systems.

This new location will allow workstations to be redesigned to support the continued growth of the Maple and Water Technologies & Services business lines.

Frédéric Dugré, President and CEO of H2O Innovation, commented,

“The Maple business line has had a superb season and we are really satisfied with the success of several new products this year.”

He added,

“We plan to also evolve in the food & beverage market by leveraging our expertise in the concentration of sugar solutions and the agricultural market where our technologies can optimize soil irrigation. This increase of our manufacturing capacity will allow us to better meet the future needs of our customers.”

The company expects considerable productivity gains, better inventory management, and improved safety for employees who will be working in less congested spaces.

Local teams will also be able to proceed with new hires to support the pace of project delivery.

H2O Innovation is a Canada-based company engaged in providing water treatment solutions based on membrane filtration technology for municipal, energy, and natural resources end-users.

H2O Innovation (HEO) is down 3.27 per cent and is trading at C$2.37 per share as of 1:26 pm ET. 

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