20th Aug 2015 07:05
LONDON (Alliance News) - Hydrodec Group PLC on Thursday said that while production is ramping up at the Canton re-refinery in Ohio, further remedial work is to be required on the project.
Hydrodec said that following testing and re-certification of the heat exchangers by the manufacturer, under the direction of the contractor, further remedial work will have to be carried out to assure the plant is able to operate at full capacity. A plan of work has been agreed and is being implemented, the company said.
It marks another issue for the company in starting up operations again at the Ohio plant, which was damaged by an explosion and fire in December 2013. In July, the re-refinery had to be shut down after equipment integrity issues were identified, though this was resolved the same month.
The company said cumulative production through the start-up process at Canton has delivered more than 200,000 gallons of SUPERfine baseoil since the start up in July, with the first commercial sale having taken place earlier this month.
Shares in Hydrodec were down 17% at the open on Thursday to 6.00 pence, one of the worst performers in the AIM All-Share.
By Sam Unsted; [email protected]; @SamUAtAlliance
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