Hydrodec has announced the disposal of its Australian plant and equipment for A$1.7m, after allowing for A$300k decommissioning and transportation costs (A$2m pre-decommissioning costs) to Greenbottle Re-refining UK. While the proceeds are slightly lower than our expectations of US$2m (A$2.9m), we believe the execution of this transaction is welcome to simplify the Group and reduce management distraction to allow focus on the US operations.
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Hydrodec – Sale of Australian assets confirmed
- Published:
13 Aug 2019 -
Author:
Andrew Simms -
Pages:
2
Hydrodec has announced the disposal of its Australian plant and equipment for A$1.7m, after allowing for A$300k decommissioning and transportation costs (A$2m pre-decommissioning costs) to Greenbottle Re-refining UK. While the proceeds are slightly lower than our expectations of US$2m (A$2.9m), we believe the execution of this transaction is welcome to simplify the Group and reduce management distraction to allow focus on the US operations.