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 Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter June 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Contracts

AWO Authorizes ClassNK to Perform RCP Audits

The American Waterways Operators (AWO) and ClassNK have signed an agreement under which ClassNK will be authorized to conduct audits of AWO's Responsible Carrier Program,

Radio Holland Wins Contracts for Canadian Coast Guard Vessels

Radio Holland Canada has won two major contracts to support the Canadian Coast Guard. Public Works and Government Services Canada, which is responsible for government procurement,

Young Brothers Orders Four New Tugs from Conrad

Young Brothers, Limited, Hawai‘i’s largest inter-island cargo service provider, and Conrad Shipyard, signed a contract to build four new tugs, a nearly $80 million

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Pipelines Pod Propulsion Port Authority Ship Repair Ship Simulators Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | 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: 0.0822 sec (12 req/sec)