31st Jul 2006 07:02
Hargreaves Services PLC31 July 2006 For Immediate Release 31 July 2006 Hargreaves Services plc ("Hargreaves" or the "Group"), Hargreaves Strengthens Waste Services Division Hargreaves Services plc (AIM: HSP), a leading provider of transport and supportservices to the energy and waste sectors, is pleased to announce the purchase ofa tyre crumbing plant from Granutyre Limited (in administration) for the sum of£1.0 million. Tyre crumbing involves the re-cycling of used tyres and is particularlyimportant following the recent change in legislation which now prevents tyrecarcasses being disposed of in landfill sites. This specific plant is one of thelargest in the UK with an annual capacity in excess of 50,000 tonnes. Located inSheffield, it is less than 15 miles from The Monckton Coke and Chemical CompanyLtd that Hargreaves acquired last year. Gordon Banham, Chief Executive Officer, said, "I am delighted with thecompletion of the tyre crumbing acquisition to strengthen our waste servicesdivision. Tyre crumbing can be sold as a useful and valuable recycled product aswell as potentially being used as a coal substitute in the production of coke.There continues to be strong demand nationwide for our services and a visiblepipeline of development and acquisition opportunities which the Group continuesto target. " For further information, please contact: Hargreaves Services plcGordon Banham, Chief Executive Officer 0191 373 4485Peter Dillon, Group Financial Officer Buchanan CommunicationsTim Anderson/Diane Stewart/Amy Rajendran 020 7466 5000 Brewin Dolphin SecuritiesAndrew Kitchingman/Andrew Emmott 0113 241 0130 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Hargreaves Serv