13th Aug 2015 10:57
LONDON (Alliance News) - Offshore waste handler Nature Group PLC Thursday said it has purchased a large tanker that it was previously leasing that will lead to annual savings of around GBP117,000.
The company has purchased the Hydrovac 12 vessel, a large-volume double hulled tanker, from Ship Invest BV for a total consideration of EUR3.1 million, which is being funded through a combination of debt facilities made available by ING Bank and the Company's own cash resources, it said.
The company had been leasing the vessel since 2013 and it was deployed in its Rotterdam waste treatment operations.
"In view of its importance to the company's operations in the region it has now elected to acquire the outright ownership of the Vessel to secure its long-term and continued availability and the company also expects to generate additional profitability of approximately GBP117,000 per annum through its ownership," said Nature Group.
Ship Invest holds a 24% stake in Nature Group.
Nature shares were up 0.2% to 12.90 pence per share on Thursday.
By Joshua Warner; [email protected]; @JoshAlliance
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