Monday, 19 January 2009

Building In The Eye Of An Economic Storm

International Water-Guard (TSX-V: IWG)
Basic Shares: 39.3 million
Fully Diluted: 46.5 million

International Water Guard had the pleasant task today (January 19th) of reporting that its order book now sits at an amount equivalent to three quarters of last year's sales, which totaled just over $4 million. IWG has just started the second quarter of Fiscal 2009.

IWG President and CEO David Fox said he couldn't predict what the remaining three quarters of this fiscal year holds, but he's very happy with these results. (IWG's year end is September.)

"This seems like a very solid start, although one cannot forsee if and when a downtrun may affect the business," Mr. Fox said.

"We are seeing conflicting signals as to the strength of the business jet market, but for now management believes that our prospects are good," he added.

One factor in IWG's favour this year is the U.S. Environment Protection Agency is scheduled to unveil the final regulations designed to clean up passenger and crew water on aircraft.

The EPA discovered in the past that nearly 20% of aircraft randomly tested failed to meet municipal water standards and nearly two percent of the aircraft carried E.coli, which killed seven in Walkerton, Ontario in 2000 and left hundreds ill.

The airline industry doesn't want to create another Walkerton in the air and since IWG has been in the business of supplying mini water treatment plants for aircraft for 20 years, management hopes even more business will come its way.

To view the full press release please click here.