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Hargreaves Services - Expansion of Immingham facility

September 2006

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

  • Epic Code:
  • HPS
  • Price:
  • 426.5p
Hargreaves has signed a new five-year coal import agreement at Immingham with port operator ABP. Immingham has recently been upgraded with new facilities called the Humberside International Terminal 2 (HIT2) and has grown coal importation capacity from 7m to 10.5m tonnes. The new agreement will see the c.1.5m tonnes Hargreaves currently imports (both Immingham and Newhaven) rise by 0.4m tonnes. Separately, Hargreaves has also bought a tyre crumbing plant from the administrators of Granutyre for £1m. Tyre crumbing involves the re-cycling of used tyres and is particularly important following the recent change in legislation which now prevents tyre carcasses being disposed of in landfill. The plant in Sheffield, less than 15 miles fro ...

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