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Update on progress at the Gibraltar Port Facility

22 Jun 2011 07:00

RNS Number : 8671I
Nature Group PLC
22 June 2011
 



Nature Group PLC

 

 

 

Update on progress at the Gibraltar Port Facility

 

 

Nature Group announces an update on developments at the Gibraltar Port Facility following the industrial accident of 31 May 2011.

 

The past three weeks have been highlighted by extensive cleaning operations at the site and at the sea front of the facility.

 

An independent investigation is being conducted by the Gibraltar Government and is expected to take about one week. All indications are that the plant is expected to be handed back to Nature at the conclusion of the investigation.

 

Nature is also conducting its own investigation and, together with its insurers, expect to have a full report on damage and cause within the next few weeks.

 

In the past weeks NPRF, Nature group subsidiary, together with local staff have cooperated fully with the Gibraltar Government in order to mitigate the impact of the incident.

 

Nature are extremely keen to meet Gibraltar's Chief Minister, The Honourable Peter Caruana, as soon as possible to discuss safety and rebuilding issues in conjunction with the previously approved extension of the plant.

 

The adjacent cruise terminal and consequent risk assessment in relation to this will be highlighted as well.

 

At this moment, Nature has continued limited collecting operations and is confident the financial impact of the incident will be limited to higher logistical costs, as future cargo operations will be temporarily diverted to other locations.

 

Gibraltar, with almost 100,000 vessel passages through The Strait annually is one of the most important shipping lanes in the world and Nature's treatment facility fulfils a key role in the obligatory legislation for ships' waste in the area.

 

A further update is planned after insurers and independent survey reports are completed, hopefully before our AGM on July 14th, 2011.

 

 

For further information please contact:

 

Nature Group Plc

Richard Eldridge 

Chairman

Tel 0044 1841 533611

Bernard Muller

Deputy Chairman

Tel: 0031 653 30 5775

Andreas Drenthen

CEO 

Tel 0031 181 291144

Peter Snell

FD 

Tel 0044 7000 892481

Northland Capital Partners

(Nominated Adviser)

Shane Gallwey

Tel 0044 2077 968823

Rod Venables

Tel 0044 2077 968827

WH Ireland

(Broker)

Sebastian Wykeham

Tel 0044 2072 200473

Ruari McGirr

Tel 0044 2072 201666

Hermes Financial PR

Chris Steele

Tel 0044 7979 604687

Trevor Phillips

Tel 0044 7889 153628

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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