Heckmann Corporation (NYSE:HEK) announced the disposition of the current operations of its subsidiary, China Water & Drinks, Inc. ("China Water"), through the sale of nine of its 25 Chinese legal entities to Pacific Water & Drinks (HK) Group Limited ("PWD"). PWD is owned by Jon Olafsson, Co-Founder and Chairman of Icelandic Water Holdings Ltd. Heckmann received 10% of the outstanding shares of PWD in connection with the disposition.

Heckmann Corporation, a holding company, acquires or makes investments in various businesses. The company, through its subsidiary, China Water and Drinks, Inc., engages in the manufacture and distribution of bottled water products in the People's Republic of China.

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