1 May 2014 07:00
1 May 2014
Hydrodec Group plc
("Hydrodec" or the "Company")
Timing of 2013 Audited Results
The Company expects to release its audited results for the year ended 31 December 2013 on 22 May 2014.
The Company is proceeding as expected towards the final settlement of its insurance claim relating to the incident at the Canton re-refinery and the Board will provide an update on this position at the time of the audited results, if not earlier.For further information please contact:
Hydrodec Group plc |
| 020 7907 9220 |
Ian Smale, Chief Executive Chris Ellis, Chief Financial Officer Mike Preen, Head of Corporate and Legal Affairs
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Peel Hunt LLP (Nominated Adviser and Broker) |
| 020 7418 8900 |
Justin Jones Mike Bell
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Vigo Communications (PR adviser to Hydrodec) |
| 020 7016 9570 |
Patrick d'Ancona Chris McMahon |
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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. Hydrodec recently 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, currently serviced by a fleet of more than 90 trucks which collect used oil and other garage workshop waste from over 30,000 customers. 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.
Hydrodec's shares are listed on the AIM Market of the London Stock Exchange. For further information, please visit www.hydrodec.com.