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'Business as usual' as Stourport company gets new owners
6:40am Tuesday 10th September 2013 in News
THE ownership of a Stourport-based collector of waste oil and workshop waste has changed hands.
OSS Group has been bought by Hydrodec Group plc although the trading business name will continue as OSS Group.
As a wholly-owned subsidiary of Hydrodec Group plc, OSS Group, at Barracks Road on Sandy Lane Industrial Estate, will continue to operate as at present. Managing director Iain Lees said: “It’s very much business as usual and a very positive move for OSS Group, our customers, suppliers and staff.”
The waste oil collected by the company is processed into about 60 million litres of fuel oil a year at its main plant at Stourport, where 200 staff are based and who have transferred to the new company. It has other facilities and its head office in Knowsley, Merseyside.
Hydrodec said it was intended that OSS Group continued to provide the same products and services as it does now.
Virtually all staff, locations, plant, transport fleet and processing facilities have been retained as part of the acquisition and the senior management team has transferred to the new business.
The company will continue to collect its customers’ waste oil and workshop waste, supply parts cleaning equipment, industrial services and other total waste management services, as well as maintaining production and sales of its processed fuel oil.
Hydrodec Group plc is a UK-listed international business with operations in the United States and Australia, primarily specialising in the re-refining of used transformer oils into renewable oil using unique and patented clean-technology.
The company plans to invest further in its new UK subsidiary, which will mean an increased range of products and services.
Ian Smale, chief executive of Hydrodec, said: “OSS Group offers a very exciting new market entry that delivers the key elements of Hydrodec’s business development strategy - they have a strong position in the used oil value chain, a profitable platform for growth with genuine business optionality and the capability to accelerate deployment of our existing transformer oil technology, as well as assist in our technology development.
“We believe that Hydrodec’s technology, together with the OSS Group’s operating platform, can offer a transformational solution to a UK environmental problem, with the potential to extend into other attractive European markets.”
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