PHOENIX, AZ / ACCESSWIRE / October 6, 2021 / Hiru Corporation - hereinafter referred to as the "Company" (OTC PINK:HIRU) - The Company and its wholly-owned subsidiary, AZ Custom Bottled Water, LLC, a Nevada limited liability company ("AZ Custom Water"), would like to announce that it has completed its new facility which houses the Company's new automated packaging and bottling line.
Ms. Kathryn Gavin (President and CEO of the Company), states…"AZ Custom Water completed the build out of our new facility and state of the art automated bottling and packaging equipment. This facility was built to satisfy the contracts with its new Client, The Alkaline Water Company (NASDAQ: WTER - hereinafter referred to as "Alkaline Water") and its suite of products called Alkaline88 ® . The Company has signed a three-year co-packing agreement with Alkaline Water and AZ Custom Water will initially produce the (3) Liter and two (2) Liter Alkaline88 ® water bottles on the new automated bottling and packing line at its new location. We are excited to sign this contract with Alkaline Water and fully expect the suite of products that will be produced by AZ Custom Water for Alkaline Water to grow quarterly and annually."
The Alkaline Water Company, Inc., are the developers of Alkaline88 - a purified alkaline water, enhanced with Himalayan rock salt and engineered for a smooth and delicious taste. They make this product in various size bottles from 500 ML to one (1) Gallon bottles.
Ms. Gavin (President and CEO of the Company) further stated…" To show how our relationship is growing with Alkaline Water, AZ Custom Water is currently in the process of upgrading the production and packaging equipment at its initial location to be able to provide Alkaline88 ®in the 1.5 Liter, 1 Liter, and 700ml bottles by the end of October. We know that the co-packing relationship between the Company, AZ Custom Water and Alkaline Water will continue to grow for years to come as we increase our production and packaging ability at our current three locations and potential new locations to be built. We also fully expect other clients with diverse packaging needs to utilize the services of AZ Custom Water as our corporate footprint in this industry continues to grow."
As stated in a previous press release, the continued and ongoing growth of the bottled water market in Arizona and in the Southwest is driving this expansion of our facilities and the Company's production capabilities. The Company expects the increase to AZ Custom Water's production footprint that started in 2021 to continue well into calendar year 2022 and beyond as it meets the needs of its current and future clients. The Company expects to hit record revenues in the remainder of FYE 2021 and break this record in FYE 2022 with higher ongoing profit margins due to high productivity and the low cost per unit performance capabilities of the new automated bottling line to be housed in the new facility that is under construction. This should drive projected revenues even higher due to our increased production capabilities, the ability to produce and offer new products to our clients, and also store them for our customers until they need them delivered.
Ms. Gavin (President and CEO of the Company) further added…" As said previously, a portion of the space in the new facility will be set aside to store the finished product for our customers including Alkaline Water. It will be a completely centralized location that will enable AZ Water to provide product to our customers on an as needed immediate basis. More importantly though, the storage capability of the new location will allow us to run large batch orders, thus lowering our cost per unit produced. This lower cost per unit will enable us to sell to our customers at a price lower than our competitors while at the same time adding a significant additional profit margin to our bottom-line financial performance. What really excites us about the future is that the current and future projected expansion of our production abilities will drive the cost per unit to a point that we expect to sign additional large industrial scale clients as our relationship with Alkaline Water grows as well."
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Certain statements that we make may constitute "forward-looking statements" under the Private Securities Litigation Reform Act of 1995. Forward-looking statements include information concerning future strategic objectives, business prospects, anticipated savings, financial results (including expenses, earnings, liquidity, cash flow and capital expenditures), industry or market conditions, demand for and pricing of our products, acquisitions and divestitures, anticipated results of litigation and regulatory developments or general economic conditions. In addition, words such as "believes," "expects," "anticipates," "intends," "plans," "estimates," "projects," "forecasts," and future or conditional verbs such as "will," "may," "could," "should," and "would," as well as any other statement that necessarily depends on future events, are intended to identify forward-looking statements. Forward-looking statements are not guarantees, and they involve risks, uncertainties, and assumptions. Although we make such statements based on assumptions that we believe to be reasonable, there can be no assurance that actual results will not differ materially from those expressed in the forward-looking statements. We caution investors not to rely unduly on any forward-looking statements.
Hiru Corp. is a Georgia corporation, is a public quoted Pink Sheet issuer under the ticker symbol "HIRU" (the "Company"). The Company reports as an alternative reporting issuer with OTC Markets Group, Inc. and is current in its mandatory required filings (e.g., Pink Sheet Current). Currently, the Company has one wholly owned, operational subsidiary, AZ Custom Bottled Water, Inc., a Nevada corporation ("AZ Water"), which owns and operates a commercial water bottling and labeling facility based in Phoenix, Arizona. AZ Water operates a B2C website at https://azcustombottledwater.com/ .
SOURCE: Hiru Corporation
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