Alkaline Water, a US-based producer of alkaline water, has signed a letter of intent (LoI) to acquire the North Cove Bottling Plant in Marion, North Carolina.
The acquisition is expected to provide logistical advantage to Alkaline Water based on the plant's strategic location and production capacity.
Located on 5.4 acres of land, the North Cove Bottling Plant was designed for high speed manufacturing, catering to retailers such as Wal-Mart, Costco and Target across the Eastern US.
The two high-speed lines at the facility have a capacity to produce 150 bottles per minute of the company's 3-liter and 1 gallon products, and over 600 bottles per minute of the smaller PET water products.
Alkaline Water president Steven Nickolas said that the acquisition of the North Cove Bottling Plant is a very strategic purchase which will allow the company to meet the interest and potential for growth its products are receiving in the Eastern US.
"The plant should allow us to expand nationally at a much quicker pace than we had previously anticipated. When running at full capacity, the plant could produce over 180,000 gallons of alkaline water per day," Nickolas added.
Alkaline Water expects to commence production at the plant as early as the fourth quarter of 2013.
