HydroDec Group plc Operational Incident at Canton (3928U)

TIDMHYR

RNS Number : 3928U

HydroDec Group plc

02 December 2013

2 December 2013

Hydrodec Group plc

("Hydrodec", the "Company" or the "Group")

Operational Incident at Canton, Ohio Re-refining Facility

Hydrodec Group plc, the cleantech industrial oil re-refining group (AIM: HYR), can confirm that a material incident took place at its re-refining facility in Canton, Ohio in the United States on Sunday, 1 December which has led to significant damage to the plant.

There were reports of an explosion and there has been a subsequent fire in the reactor building at the Canton plant. The incident occurred at approximately 4pm EST (9pm UK GMT) during routine operations. The Company's emergency shut-down system and associated procedures operated successfully and there are no reports of any casualties on or around the facility, and all Hydrodec employees are safe and accounted for. The local emergency services responded promptly and the fire was extinguished by 5.30pm. Emergency response was also mobilised from nearby Marathon Oil but was ultimately not required. The fire was contained within the reactor building with no identified damage to other buildings, plant or storage at the facility.

The cause of the incident is not yet known, and there is no reliable assessment of damage at this point, though Hydrodec is already working closely with the local authorities and relevant agencies to establish the cause, and to ensure all its rigorous operating procedures were appropriately followed. The plant is currently shut down while the incident is investigated.

Hydrodec has also begun the process of liaising with customers to establish what alternative provision can be made to minimise business consequences.

The Company will update the market as soon as it is able to give an assessment of the time required for repairs to be completed and what arrangements have been put in place with customers during this period.

For further information please contact:

 
Hydrodec Group plc                      020 7907 9220 
Ian Smale, Chief Executive 
 Chris Ellis, Chief Financial Officer 
 
Peel Hunt LLP 
 (Nominated adviser and broker)         020 7418 8900 
Richard Kauffer 
Daniel Harris 
 
Vigo Communications (PR adviser 
 to Hydrodec)                           020 7016 9573 
Patrick d'Ancona 
 Chris McMahon

This information is provided by RNS

The company news service from the London Stock Exchange

END

MSCUGGMUPUPWUMP

Hydrodec (LSE:HYR)
Historical Stock Chart
From Jun 2024 to Jul 2024