Tulsa, MykonOS tap water to be delivered by 2022
Mykronos, the Russian company that is the world’s largest producer of tap water and has a long-standing relationship with the NHL, is planning to deliver water from its own pipeline, the company said Tuesday.
The announcement was made at the company’s annual general meeting, where investors voted for a 7.9% stock buyback program and a 5.3% dividend, according to a report from Bloomberg.
The company’s share price was up 2.8% Tuesday morning to $25.60.
“In 2020, the majority of the company will become wholly owned by the NHL,” Mykionos chief executive Alexey Melnikov said at the conference.
“The team has given us a strong mandate to provide a better quality of life for its fans and the world, and I’m convinced we will deliver a better product in 2021 and beyond.”
The company said it has plans to deliver 1.4 million liters of water per day by 2022, the equivalent of more than 2 million Olympic-sized swimming pools.
Mykions main product, a series of water-purifying products, is sold to restaurants, hospitals and the military.
It has a 25% stake in the NHL.
Mykons parent, Russian state-owned gas giant Gazprom, also holds a 35% stake.
The companies said they will use the proceeds from the sale of its main product to fund its expansion.
Gazprom said in January it will buy a 10% stake of Mykones main pipeline, a project it has been working on for more than two decades.
The two companies are close partners.
The NHL has long been a partner in Mykonia.
The league is owned by its owners in the U.S. and the NHL has owned the team since 1998.