Equipment issues mean output from Hydrodec's (HYR) troubled re-refinery at Canton in Ohio will fall short of the 19m litres of base oil the oil recycling group expected for 2015 earlier this summer.
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The positive news is that commercial sales of its SUPERfine base oil product began in earnest this month, and two of its six processing trains are at full capacity, producing 9,000 gallons of cleaned oil a day. Remedial work is being carried out to bring all six trains up to specification, although Hydrodec did not give a timeframe for the job. Accordingly, analysts at Edison have placed their forecasts under review, pending "more clarity on the schedule".
