Hydrodec revises estimated 2015 output of Canton re-refinery

Hydrodec revises estimated 2015 output of Canton re-refinery

Hydrodec Group PLC reported that its Canton, Ohio, U.S.A. re-refinery has so far delivered more than 750,000 litres of SUPERFine(TM) base oil, with the first commercial sale occurring on August 3, 2015. Trains 1 and 2 continue to operate at close to design specification producing approximately 34,000 litres per day.

However, Hydrodec said that further remedial work is required on its heat exchanger before the plant’s capacity can operate at full design capacity, following testing and re-certification of the heat exchangers by the original equipment manufacturer under the direction of the principal contractor. This plan of work has been agreed and is being implemented, the company said.

As a result, Hydrodec said it will not be able to produce 19 million litres of re-refined base oils in 2015, as was communicated by management at the company’s Annual General Meeting on June 9, the company announced.

“Nevertheless, the Canton business is still expected to be cash generative by the end of the current year,” it said.

A further update on expected production for the year will be provided when the company publishes its interim results on Sept. 23.

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