WATER TECHNOLOGIES CORPORATION ENTERS INTO RESEARCH AND SUPPLY AGREEMENT WITH DONALDSON COMPANY, INC.
WATER TECHNOLOGIES CORPORATION ENTERS INTO RESEARCH AND SUPPLY AGREEMENT WITH DONALDSON COMPANY, INC. MINNEAPOLIS, Jan. 6 /PRNewswire/ -- Water Technologies Corporation (NASDAQ: WTCO), a manufacturer and marketer of iodinated resins, announced today that it has entered into a research and supply agreement with Donaldson Company, Inc. (NYSE: DCI). Under the mutually exclusive agreement, Water Technologies Corporation will supply its resins to satisfy Donaldson's efforts to develop air filtration products or components incorporating those resins. The volume of resin shipments will be subject to mutual agreement during a two year development period. Previously, these iodinated resins have been used in water purification applications. Upon the development of commercial air filtration products by Donaldson which incorporate the resins, Donaldson has agreed to display the PentaPure(TM) trademark on products and related literature. Water Technologies Corporation will be paid a marketing fee in addition to the price established for the resins. The agreement establishes technical collaboration between Donaldson's development staff and Water Technologies Corporation. The term of the agreement is the later of 10 years from the date of execution or the life of any jointly-owned patents. Donaldson Company, Inc., based in Minneapolis, and established 75 years ago, is a worldwide manufacturer of filtration products. Donaldson Company, Inc. common stock trades on the New York Stock Exchange, under the symbol DCI. Water Technologies Corporation, based in Plymouth, Minn., manufactures and markets iodinated resins and water purification products. The resin technology was developed at Kansas State University and is used by NASA aboard the Space Shuttle. The Company's PentaPure(TM) resin devitalizes harmful water-borne bacteria, viruses, and protozoa, providing microbiologically pure water. Water Technologies Corporation supplies devices suitable for personal travel, camping and emergency use; systems for home and commercial applications; and industrial capacity water purification systems for commercial buildings, complexes, and water processing facilities. -0- 1/6/92 /CONTACT: Sheldon A. Vermes, chairman and CEO, or Fred R. LeGrand, both of Water Technologies, 612-473-1625; or Tom de Petra of de Petra & Associates, 612-338-7630 for Water Technologies/ (WTCO DCI) CO: Water Technologies, Donaldson Company ST: Minnesota IN: SU: CON
DS -- MN001 -- 6781 01/06/92 09:31 EST
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|Date:||Jan 6, 1992|
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