Augean Plc Mothball of East Kent High Temperature Incinerator (1776K)
December 12 2018 - 1:00AM
UK Regulatory
TIDMAUG
RNS Number : 1776K
Augean Plc
12 December 2018
Augean plc
("Augean" or "the Group")
Mothball of East Kent High Temperature Incinerator
Augean, one of the UK's leading specialist waste management
businesses, announced on November 21(st) that it was undertaking a
review of its' East Kent High Temperature Incinerator (The
"Facility"). The review is now complete and the Group has decided
that the Facility will be mothballed early in the New Year. The
Group will now seek to sell or lease the site with the benefit of
the existing permit to interested parties.
The Group has invested almost GBP1m per annum on the Facility
which has consistently under-performed the returns required by the
Group. While performance has been improving, in particular during
the last quarter, it is forecast to lose GBP0.5m in 2018. The site,
the 2018 loss and the costs of closure, estimated to be GBP0.6m,
will therefore be treated as a discontinued activity for the 2018
Preliminary Results.
- Ends -
Enquiries:
Augean plc
Jim Meredith, Executive Chairman
Mark Fryer, Group Finance Director 01937 844 980
N+1 Singer
Shaun Dobson
Jen Boorer 020 7496 3000
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END
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