Labor SMART Inc (OTCMKTS:LTNC), which is primarily involved in providing temporary labor on demand to companies in the Southeastern part of the United States, is now looking to diversify its business. The company’s blue-collar labor supply business has attracted plenty of clients and some of those also included companies from within the Fortune 100.
The company had been established to provide companies of all sizes with labor on demand. It works with a wide range of industries starting from construction and hospitality to warehousing and retail. Earlier this month, the company announced that it is going to diversify into the hydrogen water products space by way of a joint venture.
The announcement in this regard was made by Labor SMART on March 17. The company announced that inked a Memorandum of Understanding with Faith Springs LLC with regards to the joint venture. Faith Springs is better known for its brand H2ForLife.
However, the company pointed out more vital details with regards to this understanding. As part of this transaction, Labor SMART is also going to pick up a minority stake in Faith Springs by way of its fully owned subsidiary company Takeover Industries Inc.
Once the minority stake is taken up, it will give Labor SMART the right to market and sell all the hydrogen water products that are sold under the H2ForLife brand. The rights are going to last for a period of two years. H2ForLife has become a well-known brand in the industry and at this point, it is the only hydrogen spring water of the ultra-concentrated variant in the market.
The water is packaged right at the source and following that patented technology is deployed in order to ensure that it manages to deliver the powerful atomic hydrogen molecules to the consumer. The move from Labor SMART is likely going to be watched closely by both investors and market analysts over the coming months.
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