Hydrodec Group sells Australian plantChristian Fernsby ▼ | August 13, 2019
Hydrodec Group announced the disposal of its Australian plant and equipment, and an agreement to licence certain other rights in respect of those assets, to Greenbottle Re-refining.
Acquisition Hydrodec Group
Topics: Hydrodec Group
The company is expected to receive a net figure of A$1.7 million after estimated decommissioning and transportation costs;
In addition, the group has the right to receive a royalty from Greenbottle, for an initial period of 8 years, further details are below; and
The anticipated net proceeds will be used to satisfy outstanding liabilities of the Australian operating entities. ■