MC Endeavors and OneSource Enter Joint Venture Agreement

MC Endeavors Inc. subsidiary Centiuum Holdings Inc. signed a joint venture agreement with OneSource Co. Ltd. of South Korea to support the installation of its underground storm water retention chambers manufactured by StormTech LLC for projects in South Korea. OneSource is an outsourcing company in Korea with offices in Seoul and Hong Kong. StormTech LLC is a wholly owned subsidiary of Advanced Drainage Systems (ADS), which is the world's largest producer of corrugated HDPE pipe.

"Our partnership with Centiuum Holdings Asia in Seoul is a very good match for both companies because of Richard Sohn's networking experience within both the federal and provincial government departments and our government services contracts that we have in place already," said Luke Park, chief operating officer of OneSource. "OneSource will also support the business development with their marketing staff and network of client services to help promote and install the StormTech water drainage and holding systems in both Korea and Malaysia."

"Our next project will be the installation of the StormTech Chambers for water retention and storage under the new soccer stadium field in the city of Inchon,” said Richard Sohn, chief operating officer of MC Endeavors and Centiuum Asia. “These projects will save cities millions of dollars in real estate that they are now spending on open ponds to store the rainwater runoff. These economically installed underground systems will set the standard in storm water retention for other cities to follow throughout Asia." The project covers 166,000 cu meters at an installed cost of $22 million.

Source: Trading Markets