New company to specialise in drinking water systems
Nineteen months after selling Pure Water to Watlington Waterworks Ltd.
subsidiary, Bermuda Waterworks Ltd., Allan Marshall, has now left the company and purchased a portion of the water treatment services division of Bermuda Waterworks.
Bermuda Waterworks president and CEO, Allan Rance, said the company's board of directors had "determined it was in the best long-term interests of shareholders to divest the company of the water treatment business and invest the proceeds of the sale toward its core business lines -- the pipeline utility division and the bottled water division (that is Pure Water) which are both experiencing strong growth.'' Mr. Marshall and his partner, Paul Claude, sold Pure Water for $3.1 million in February 1996, three and a half years after starting the business.
He said yesterday that he was looking forward to the opportunity to create "a dynamic service orientated company, specialising in drinking water systems.'' The water treatment company is to be named ClearWater systems, and will offer water filtration products, filtration and reverse osmosis (RO) water coolers, RO systems, distillation systems, water softeners, and other specialist water treatment products for residential and commercial customers. Mr. Marshall will remain on the board of Bermuda Waterworks, but hoped to be operating the new company out of new premises within a month, developing employment and professional opportunities in the future.