Sirloin, The old plant was built in the 1940's by ICI. It is very worn and rusted in the corrosive environment. I doubt it has any value. The electrics are from a previous age.
I expect the demolition cost will exceed the cost of salvaged parts and scrap. Also the site remediation costs will probably exceed the value of the warehouses and land value.
I suspect if PSH announced a total shutdown they would have to recognise the cost of remediation.
I can't see any way they will be able to pay the shutdown costs let alone service $100,000,000 of debt.
Please let me know about your IWI progress as you can. Regards Bacci
PSH Price at posting:
11.0¢ Sentiment: Sell Disclosure: Not Held
