HydroDec Group plc Disposal of Knowsley plant and offices by Hydrodec (4496B)
07 Octubre 2015 - 1:00AM
UK Regulatory
TIDMHYR
RNS Number : 4496B
HydroDec Group plc
07 October 2015
7 October 2015
Hydrodec Group plc
("Hydrodec" or the "Company")
Disposal of Knowsley plant and offices by Hydrodec UK
Hydrodec Group plc (AIM: HYR), the clean-tech industrial oil
re-refining group, is pleased to announce that Hydrodec (UK)
Limited ("Hydrodec UK"), a subsidiary of the Company, has completed
the disposal of its Knowsley office premises, plant and associated
assets in the UK to Mulberry Waste Limited ("Mulberry") for approx.
GBP685,000 in cash. Operationally, Hydrodec UK has two transfer
stations in the North West of England (Knowsley and Manchester)
and, going forward, oil collection operations will be based out of
its Manchester transfer station. In addition, as part of the
disposal, Hydrodec UK has entered into a commercial arrangement
with Mulberry for it to process workshop waste on behalf of
Hydrodec UK.
Commenting on the disposal, Ian Smale, Chief Executive of the
Company said: "Hydrodec UK has responded, and continues to respond
to, and operate in, a tough trading environment. The disposal of
the Knowsley office premises and plant is part of the process of
realising operating efficiencies through the transition of the OSS
and Eco-Oil businesses under a combined Hydrodec (UK) operating
structure and brand. This combined Hydrodec (UK) operating
structure will provide the security of feedstock supply which
underpins the rationale and longer term strategy for a UK
re-refinery."
For further information please contact:
020 3300
Hydrodec Group plc 1643
Ian Smale, Chief Executive
Chris Ellis, Chief Financial
Officer
James Hodges, General
Counsel and Company Secretary
Peel Hunt LLP (Nominated 020 7418
Adviser and Broker) 8900
Justin Jones
Mike Bell
Vigo Communications (PR 020 7016
adviser to Hydrodec) 9570
Patrick d'Ancona
Chris McMahon
Notes to Editors:
Hydrodec's technology is a proven, highly efficient, oil
re-refining and chemical process initially targeted at the
multi-billion US$ market for transformer oil used by the world's
electricity industry. Spent oil is currently processed at two
commercial plants with distinct competitive advantage delivered
through very high recoveries (near 100%), producing 'as new' high
quality oils at competitive cost and without environmentally
harmful emissions. The process also completely eliminates PCBs, a
toxic additive banned under international regulations. Hydrodec's
plants are located at Canton, Ohio, US and Young, New South Wales,
Australia. In 2013, Hydrodec acquired the business and assets of
OSS Group, the UK's largest collector, consolidator and processor
of used lubricant oil and seller of processed fuel oil, with a
national network of oil storage and transfer stations. Used oil is
converted into processed fuel oil at OSS's plant at Stourport and
principally sold on to the UK quarry and power industry. In April
2015, Hydrodec further acquired the business and assets of Eco Oil,
a leading UK waste oil collector and supplier of recycled
industrial fuel oil into the power and road stone industries. It is
also one of four significant providers of waste management services
to the marine industry in the UK, specifically oily-water slops or
marine pollutant (MARPOL). In line with our stated intention to
develop a base oil re-refinery in the UK, we have an exclusive
licence agreement with California-based Chemical Engineering
Partners (CEP) to develop the CEP wiped-film evaporation and
hydrogenation technology in the UK as well as the basic engineering
for a 75 million litre per annum capacity base oil re-refinery.
Hydrodec's shares are listed on the AIM Market of the London
Stock Exchange. For further information, please visit
www.hydrodec.com.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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