The outcome of negotiations with the Cayman government regarding a new retail license agreement, the future financial performance of its subsidiaries that manufacture water treatment related systems and projects and provide the design, engineering, management, operating and other services applicable to commercial, municipal and industrial water production.
Refer to the input text as context and select the correct relationship between 'water treatment' and 'water' from the available options.
Options: product/material produced, parent organization, distributed by, headquarters location