Water Technologies International, Inc. Looks to Unwind the Water Zone Acquisition

Jun 02, 2023

WEST PALM BEACH, FL / ACCESSWIRE / June 2, 2023 / Water Technologies International, Inc. (OTC Markets Pink Sheets:WTII - News) the leader in the technology in atmospheric water generator's production and design announced today that it has decided to unwind Water Zone, its wholly owned subsidiary. The Company provides commercial water treatment to Hospitals, condominiums, car washes, and large manufacturers, and delivers DI resin tanks to companies throughout Florida. Water Zone has fallen under pressure from rising debt and shrinking profit margins. Over the past few years, the Company has had to deal with the COVID-19 pandemic, rising costs due to issues with supply chains, labor shortages, fuel prices, inflation, and late-paying customers. The Company had been winning contracts but by the time the work orders were completed the rising costs and legacy obligations eroded the margins and left the wholly owned subsidiary insolvent.

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