SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported): October 13, 1998
Aqua Alliance Inc.
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(Exact Name of Registrant as Specified in Charter)
Delaware 033-017921 13-3418759
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(State or Other Jurisdiction (Commission (IRS Employer
of Incorporation) File Number) Identification No.)
30 Harvard Mill Square, Wakefield, Massachusetts 01880
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(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code: (781) 246-5200
Air & Water Technologies Corporation
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(Former Name or Former Address, if Changed Since Last Report)
ITEM 5. OTHER EVENTS
On October 13, 1998, Air & Water Technologies Corporation (the
"Company") announced that, effective as of October 13, 1998, Aqua Alliance
Inc. is the new name for the Company which has been newly restructured and
will be headquartered in Wakefield, Massachusetts. On October 13, 1998, the
Company issued a press release announcing the new name and the
restructuring. A copy of the press release is attached hereto as Exhibit
99.1 and is incorporated by reference herein.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND
EXHIBITS
(c) Exhibits
99.1 - Press release of the Company dated October 13, 1998.
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
AQUA ALLIANCE INC.
By: /s/ Alain Brunais
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Name: Alain Brunais
Title: Senior Vice President and
Chief Financial Officer
Date: October 14, 1998
EXHIBIT INDEX
EXHIBIT NO. DESCRIPTION PAGE NO.
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99.1 Press release of the Company dated 5
October 13, 1998.
EXHIBIT 99.1
Contact: Robert S. Volland
Aqua Alliance Inc.
(781) 246-5200
FOR IMMEDIATE RELEASE
AQUA ALLIANCE NEW NAME FOR RESTRUCTURED
AIR & WATER TECHNOLOGIES
Wakefield, Mass. (October 13) - Effective today, Aqua Alliance Inc., is the
new name for the restructured company formerly known as Air & Water
Technologies Corporation. Aqua Alliance will be an integrated single
source provider of services and solutions for the water and wastewater and
hazardous waste remediation markets. The new symbol for Aqua Alliance will
be AAI on the American Stock Exchange. Trading under the new symbol will
commence tomorrow.
"Today marks a significant turning point in our company and in the way we
work. We will be focused on addressing the needs of our clients through an
organization devoted to delivery of value-added solutions and services. We
have the depth of experience to accomplish this through the strengths we
have in Professional Services Group and Metcalf & Eddy," said Thierry
Mallet, President and Chief Executive Officer of Aqua Alliance.
The recapitalization of the Company, completed earlier this year, allowed
Aqua Alliance to sharply reduce debt and focus on developing the plans to
grow the business profitably. Vivendi, the French utilities company with
$35 billion in revenues, was a key player in the recapitalization and,
directly or indirectly, owns 83% of Aqua Alliance.
Daniel Caille, Chairman of the water division at Vivendi, the world's
largest water company, stated, "We are committed to a strong and lasting
alliance in the United States through Aqua Alliance. The newly
restructured Aqua Alliance will have access to the world's largest research
center devoted to water and the "best practices" of 7,000 operating systems
throughout the world."
Aqua Alliance will be headquartered in Wakefield, Massachusetts and
organized into four regions operating from Chicago, Atlanta, Wakefield and
San Diego. Metcalf & Eddy and Professional Services Group corporate
functions will be combined and redundancies eliminated.
According to Mallet, "With this new structure, we will provide an efficient
sales, administration and customer support system in a cost effective
manner. We understand the economics of water and believe our customers and
shareholders will benefit significantly. As an integrated entity, we will
be leaner and more responsive to our clients' needs."
Aqua Alliance was selected as the new name because it clearly states the
Company's two greatest strengths: Its dedication to the water business and
the relationship formed with its clients, shareholders and employees.
Thierry Mallet has taken the position of President and Chief Executive
Officer of Metcalf & Eddy and Professional Services Group as he continues
to lead Aqua Alliance. Joseph Bolton will be Executive Vice President for
Business Development. Jake Vittands will become Senior Vice President of
Strategic Development for Aqua Alliance. Effective October 15, 1998,
Michael Szomjsassy will become Chief Operating Officer.
Aqua Alliance Inc. operates, maintains, and manages water and wastewater
systems, engineers, designs and constructs water and wastewater facilities
and remediates contaminated soil. Aqua Alliance is an affiliate of Vivendi,
the world's largest water services company with operations in over 90
countries.
