NYMH Executes Purchase Contract

Sunday, September 20, 2009

NYMET Holdings Inc. (PINKSHEETS: NYMH), a metals and mining company headquartered in Port Jefferson, N.Y., announced the successful execution of a Lease Purchase Contract to acquire a marine salvage and storage facility located in Stockton, Calif. The acquisition, which includes two waterfront parcels, as well as riparian rights, provides NYMET a strategic location to expand their Marine Salvage Division for scrap metal recovery.

The property, located on the waterfront of the San Joaquin River, in Stockton, Calif. will provide NYMET the ability to process and transport scrap metal derived from the salvage and ship breaking opportunities available on the west coast of North America. The facility provides access to the Delta waterway as well as the ability to park salvage barges.

In addition to being one of the last waterfront properties permitted for storage and marine salvage operations, the Property's proximity to Oakland's port also enables NYMET to export material to Asia extremely cost effectively. The facility, with its riparian rights, also allows NYMET to have barges parked at their facility and provides an enormous logistical advantage.

This acquisition marks yet another significant milestone for NYMET and their shareholders. The acquisition positions NYMET to recognize significant cash flow from their marine salvage operations.

(www.nymetholdings.com)
 

Maritime Reporter August 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Contracts

Keystone XL Costs to Nearly Double - TransCanada

The total cost of TransCanada Corp's controversial Keystone XL pipeline is likely to nearly double following six years of regulatory delays, a company spokesman said on Friday.

Sulzer Shareholder has 5 pct Dresser-Rand Stake

Russian billionaire Viktor Vekselberg's Swiss investment firm Renova Group said on Friday it had a 4.99 percent stake in U.S.-based Dresser-Rand, which might become the object of a takeover battle.

Source: Siemens Offering $6.1 bln for Dresser Rand

Germany's Siemens plans to offer more than $6.1 billion, or $80 per share, for U.S. compressor and turbine maker Dresser-Rand, Germany's Manager Magazin said on Friday.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Navigation Offshore Oil Pipelines Ship Electronics Ship Repair Shipbuilding / Vessel Construction Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1115 sec (9 req/sec)