HydroDec Group plc Completion of US strategic partnership
May 01 2013 - 10:02AM
RNS Non-Regulatory
TIDMHYR
HydroDec Group plc
01 May 2013
1 May 2013
Hydrodec Group plc
("Hydrodec" or "the Company")
Completion of US strategic partnership
Hydrodec Group plc, the cleantech industrial oil re-refining
group (AIM: HYR), is pleased to announce completion of the
strategic partnership with G&S Technologies (G&S) announced
on 17 April 2013.
Lord Moynihan, Hydrodec's Chairman, Ian Smale, Chief Executive,
and Chris Ellis, Chief Financial Officer were in Canton, Ohio with
G&S Vice Presidents George Newmark and Jeffrey Lefkovits to
complete formalities and initiate planning for the major expansion
of capacity in the US which will create the leading US re-refiner
of used transformer oils.
Ian Smale commented: "This partnership will be a catalyst for
growth in our core US market, and a blueprint for how we develop
the Company going forward."
For further information please contact:
Hydrodec Group plc 020 7907 9220
Ian Smale, Chief Executive Officer
Chris Ellis, Chief Financial Officer
Mike Preen, Head of Corporate and Legal
Affairs
Peel Hunt LLP (Nominated adviser and broker) 020 7418 8900
Richard Kauffer, Daniel Harris
Luther Pendragon (PR adviser to Hydrodec) 020 7618 9100
Neil Thapar, Alexis Gore, Sarah Davis
Notes to Editors:
Hydrodec
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 and its shares are listed on the AIM Market
of the London Stock Exchange. For further information, please visit
www.hydrodec.com.
G&S
G&S is a privately owned conglomerate based in New Jersey
with a 50 year track record in the recovery and disposal of
decommissioned transformers, treatment and handling of waste and/or
contaminated transformer oils as well as associated asset recovery
services. The group, which includes G&S Technologies and
affiliation with TCI Alabama, Transformer Technologies (Oregon) and
TCI of New York, serves the industrial and utility industries
throughout the entire US offering its clients a wide range of
services including: PCB sampling and testing, on-site dielectric
fluid disposal and on-site, field dismantling for larger power
transformers through its partnership with Northeast Transformer
Services (Preble, NY). G&S also offers replacement and
rebuilding services to meet its customers' specific needs.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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