International Water-Guard Industries Inc.

International Water-Guard Industries Inc.

November 08, 2007 09:30 ET

IWG Responds to Unprecedented Shift in US/Canadian Dollar Exchange Rate

BURNABY, BRITISH COLUMBIA--(Marketwire - Nov. 8, 2007) - International Water-Guard Industries Inc. (TSX VENTURE:IWG) has adjusted its pricing and business policies in response to the unprecedented shift in exchange rates between the US and Canadian dollar, announced David Fox, president and chief executive officer.

With the Canadian dollar at an all time high, IWG has raised its US prices by 7%, while working with non-US customers to transition sales to local currency such as the Euro, Fox explained.

"The Canadian dollar has appreciated more than 20% against the US dollar over the last year," he pointed out. "As a Canadian aerospace company doing business in US dollars, we must compensate for this devaluation of company revenue, and ensure that IWG's robust growth in terms of shipments and financial performance continues."

According to Fox, the company is attacking this issue on all fronts, from pricing to currency of sale, as well as reviewing its own cost base and supply chain management.

"Ultimately, we view this issue as a 'blip' in our business plan," said Fox. "We're at an exciting stage, with an objective of significant growth over the coming years."

International Water-Guard is a Canadian aerospace company focusing on aircraft potable water treatment and full water system solutions. With expertise in all aspects of water treatment, IWG has the products and knowledge to provide high quality water for passengers and crew, as well as lightweight, space saving solutions for the aircraft operator.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • International Water-Guard Industries Inc.
    David Fox
    President and CEO
    (604) 255-5555 or 1-800-667-0331
    (604) 255-5685 (FAX)