Apr 22, 2009

Global Water Technologies Moves Headquarters to Indiana

Midwestern location provides proximity to many customers with hard water treatment needs

Global Water Technologies, Inc., a provider of non-chemical water purification and treatment services, has announced its corporate headquarters have moved to Indianapolis, Ind.

“Indiana has an excellent technology community, a vibrant entrepreneurial climate, a strong manufacturing history and a new emphasis on clean technology. That’s an excellent environment to grow this business,” said Erik Hromadka, president and CEO. “Today’s Earth Day activities are a reminder that wise use of natural resources is important and no resource is more important than clean water.”

“We welcome Global Water to Indiana and thank them for their investment and confidence in our state,” said E. Mitchell Roob Jr., secretary of commerce and chief executive officer of the Indiana Economic Development Corp. “This company’s pursuit of clean technology practices and responsible water management is admirable and reflective of the state’s overall mission in attracting new investment.”

Hromadka noted that Indiana also provides the company with cost advantages and its central Midwestern location has better proximity to a large number of commercial and industrial customers that have hard water treatment needs which can benefit from its patented electronic descaling technology.

“In this economic climate, controlling costs is key to long-term success,” Hromadka said. “In the past three months, the new board has undertaken a review of the company’s operations and aggressively cut costs, including a reduction in management and overhead expenses of more than 50%. Although there are numerous opportunities for growth in the water industry, we believe it must be managed carefully and developed in a profitable manner.”

The company is also undertaking a comprehensive review of previous management practices and working to establish the internal and external reporting systems required for relisting with the SEC.