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.
Take context from the input text and decide on the accurate relationship between 'water treatment' and 'water' from the options provided.
Options: headquarters location, distributed by, parent organization, product/material produced