12/09/2008
Recycled oil transformer pioneer Hydrodec reports its ‘SuperfineTM’ product has completed independent quality assurance verification.
The AIM-quoted company, chaired by innovative product entrepreneur and former City magnate John Gunn, says samples of ‘Superfine’ have been sent to its customers ‘for their final approval’. According to Gunn, this initial verification ‘signifies commencement of full commercial operation’ of London-based Hydrodec’s US facility in Canton, Ohio, with customer deliveries ‘in the immediate future’.
Floated at 5p four years ago and last recommended by Growth Company Investor at 26p last year, Hydrodec shares now trade at 45p, valuing the company at £120.95 million. Some profit taking might be prudent, but there could be more growth to come.
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