Loss of contract


Norsk Gjenvinning Industri was not awarded any contracts in the Statoil waste management and tank cleaning tender. 

The Norsk Gjenvinning Group is currently operating parts of these contracts; waste management and supply ship tank cleaning at Statoil's facility at Mongstad, and will continue to do so until expiry in April 2016.

The Norsk Gjenvinning Group has 40.000 customers and handles 1,8 million tons of waste yearly. The current Norsk Gjenvinning Industri part of the contracts represent a volume of 7.400 tons and slightly below NOK 50 million in revenues on an annual basis. These contracts are not pivotal for the Group as a whole, but we have nevertheless decided to send a stock exchange release to avoid speculation.

The Group will continue its ongoing focus to growth profitably and intensify efforts to increase revenues and replace the lost volumes with other customers.

For further queries, please contact: Dean Zuzic, Group CFO VV Holding AS Email: dean.zuzic@ngn.no Tel: +47 41433560