HYR.L Regulatory News (HYR)

14 Jun 2005 07:00

HydroDec Group plc14 June 2005 14 June 2005 Hydrodec Group plc Appointment of Finance Director The Board of Hydrodec Group plc ("Hydrodec" or "the Company") (AIM: HYR) today,14 June 2005, announces the appointment of Philip Newell as its FinanceDirector. Philip Newell, aged 46, has a wide range of international experience gained inUK and US listed groups in strategy, corporate finance, financial reporting,control and treasury. Most recently he worked in corporate finance at Cable andWireless plc and before that was Group Financial Controller at LEP Group plcduring its corporate recovery and held roles at, BET plc, Price Waterhouse andTouche Ross & Co. He is a Chartered Accountant and graduated in PureMathematics from Warwick University. Rodger Sargent, who currently holds the role of Hydrodec's Finance Director andCompany Secretary, will remain actively involved in the Company as anon-executive Director. Chris Nash, CEO of Hydrodec said "Philip Newell's skills and experience will bea valuable addition to the existing management team during the continueddevelopment of the Company including the new production facility in Australiaand the exploration of opportunities to expand the Company on a global basis." For further information please contact: Chris Nash, CEOHydrodec Group plcTel: 020 7861 9633 Nick FoxM: Communications LimitedTel: 020 7153 1530 Appendix: Philip Newell is currently a director of Closed Joint Stock Company SakhalinTelecom Mobile and in the last 5 years has held directorships in Joint VentureSakhalin Telecom Limited, Joint Stock Company Sakhalinsvyaz, Cable & WirelessCIS Services Limited and Cable & Wireless Western Hemisphere Luxembourg S.A.R.L. Hydrodec confirms that no other details are required to be disclosed underparagraph (f) of Schedule 2 of the AIM Rules with respect to Philip Newell. Hydrodec was established to commercialise the Hydrodec Technology which is anoil re-refining process designed to regenerate oil and remove harmfulcontaminants such as PCBs. The Hydrodec Technology is based on intellectualproperty comprising a protected patent in Australia and certain otherjurisdictions developed by the Commonwealth Scientific and Industrial ResearchOrganisation ("CSIRO") of Australia. Hydrodec has entered into an exclusiveglobal license with CSIRO for the marketing and distribution of the HydrodecTechnology. Earlier this year, it committed the sum of £1 million (one million pounds) tothe construction of a new, larger Hydrodec plant capable of processing up to20,000 litres per day of speciality oils and/or chlorinated organic wastes. TheCompany anticipates that the plant construction in Australia will beapproximately nine months. When fully operational, the new plant will produce anear seven-fold increase in Hydrodec's processing capacity. Since June 2004 a 3,000 litre per day Hydrodec plant has been operating inAustralia principally re-refining PCB contaminated transformer oils forAustralian power utilities. The technology can also been used to treat avariety of other chlorinated organic wastes, commonly referred to as "PersistentOrganics Pollutant" ("POPs"). This information is provided by RNS The company news service from the London Stock Exchange