LONDON (Alliance News) - Augean PLC said Friday it has sold its East Kent high-temperature incinerator to Wastecare Ltd for GBP3.4 million in cash.
Wastecare, an existing Augean customer, will pay GBP1.0 million immediately and GBP2.4 million within three months.
Augean said the facility was loss-making in 2017 and 2018. The hazardous waste disposal company said the sale represents a GBP2.5 million profit and will mean the company avoids the cost of closing the facility, which was expected to be about GBP600,000.
Shares in Augean were up 4.9% Friday at 72.90 pence each.