Cassandra Oil (CSSOF)

[Ubertino]

Cassandra Oil shipping the first production reactor to a plant in northern Iraq. Next year a further four machines are delivered to the same site.

Anders Olsson, Cassandra Oil. Photo: Calle Froste

Cassandra Oil suppliesBy: Calle Froste
Published December 17th 2013 09:16 3

Västerås Company Cassandra Oil supplies in the days first series-produced oil purification machine. It's celebrated with champagne.

First North-listed Cassandra Oil, which produces so-called reactors to produce clean oil contaminated by oil spills and / or waste plastics and old tires, has had problems with delays.

The day is now shipping the first production reactor at a plant in northern Iraq. Next year a further four machines are delivered to the same site.

The delivery by truck to Iraq. On Monday lasted loading work flat out and under the Company's major shareholder and founder Anders Olsson, delivery will be shipped from the shop floor in Vasteras, as soon as the lorries arriving from Turkey.

- After the holidays, it is advisable to send the staff assembles the first plant, he says.

Today, Tuesday, celebrating Cassandra Oil first this shipment with a group photo and champagne.

The machine is sold for on the order of € 4.5 million to a joint joint-venture who finance the deal.

For Cassandra Oil means delivery to the company now draws in the first revenues in the company's history. Up to the third quarter report, the company has only reported zeros on the revenue line of the income statement.

According to Anders Olsson, the production rate of the spring is increased and the company plans to deliver an additional 16 machines in 2014.

- During 2015, we manufacture a reactor in the week, he says.

With the current sale would mean a delivery rate of twelve-month basis in about two billion by the end of 2015.

Cassandra Oil has, since the company two years ago took the back door to the First North list, seen as a hope companies. The market has great expectations of the Company valued at 1.3 billion. The course has climbed from 30 kronor level at year-end to today's notes about SEK 50.

By: Calle Froste
Email reporter

http://www.affarsvarlden.se/hem/nyheter/article3794318.ece