Northbridge Industrial Services’ Crestchic division remains strong

Northbridge Industrial Services plc (LON:NBI), the industrial services and rental company, announced on 30 September 2021 that the Group was at an advanced stage of exiting Tasman, its oil drilling rental tools division, in Malaysia and Singapore, was in exclusive discussions to sell the operations in Australia and New Zealand and was in early discussions regarding its Tasman entities in the Middle East.

The exit from Malaysia and Singapore is now finalised and the exclusive discussions on the sale of the Australian and New Zealand entities are progressing. The Board hopes to be able to give a more detailed update on this disposal within the next few weeks. Discussions on the Middle East disposal remain on hold pending the outcome of the disposal of the businesses in Australia and New Zealand.

The estimated exceptional cost related to the restructure and disposal of the Tasman division, as noted in the previous announcement on 30 September 2021, remains unchanged at between £6.0 – 7.0 million.

Board change

Ian Gardner, Managing Director of the Tasman division, has left the Company and stepped down from the Board with effect from today. Ian has been retained to provide transition support to the Board for the next four months for the ongoing disposal of the Tasman division.

The Board would like to express its gratitude to Ian for his fourteen years of exemplary service, seven years of which has been on the Northbridge Board, and wish him well in his future endeavours.

Trading update

Trading in the Crestchic division remains strong and the Tasman division has continued its recovery from the slowdown occasioned by the COVID-19 pandemic. Northbridge performance for 2021 remains in line with management’s expectations and a further update on trading will be made in February.

Click to view all articles for the EPIC:
Or click to view the full company profile:
Facebook
X
LinkedIn
Northbridge Industrial Services Plc

More articles like this

Northbridge Industrial Services Plc

What is generator loadbank testing?

In a normal setup, a UPS (uninterruptible power supply) is found between alternative sources of power and the protected loads. The reason behind this is to protect the loads from unexpected power failures which could damage the loads.

Northbridge Industrial Services Plc

Why use a loadbank?

Over time, lightly loaded generator sets develop wet-stacking and carbon build-up in the combustion chambers and exhaust system. The use of a loadbank helps prevent this and determines the generator’s capability to produce maximum output in

Northbridge Industrial Services Plc

Northbridge Industrial Services upgrades outlook

Burton on Trent-based Northbridge Industrial Services has increased its outlook for the current financial year as the business prepares to change its name. The listed company, which provides industrial equipment to the construction, power and oil

Northbridge Industrial Services Plc

Is load bank testing necessary for containerised data centres?

Load bank testing: With an ever-expanding remit of applications, containerised, or mobile, data centres are rapidly becoming the go to solution for meeting today’s dynamic, high volume data processing and communications demands. But is the temporary

Northbridge Industrial Services Plc

Crestchic at DataCentreWorld 2022 in Frankfurt

Crestchic is delighted with the results from DataCentreWorld, which was held on the 11th and 12 May in Frankfurt. Team members were on hand to answer questions from the many attendees over the two days. Chris

Northbridge Industrial Services Plc

Load banks at container ports

The container shipping industry is an ever-growing, fast-paced environment, and power infrastructure cannot always grow in-line with power requirements. For this reason, many container ports are choosing to expand their power capacity by using stand-alone temporary

Northbridge Industrial Services Plc

Load banks in the healthcare sector

Testing solutions from the world’s leading load bank manufacturerLoad banks are used to test the effectiveness of standby systems in a variety of situations: Key Factors Running a generator on full load helps to avoid “wet

Northbridge Industrial Services Plc

Load banks in the marine & shipbuilding sector

The need for reliable back-up power in the marine environment is paramount. A loss of navigation or steering can be catastrophic. A back-up power supply that is proven to be 100% effective, first time, every time,

Northbridge Industrial Services Plc

Load banks in the data centre sector

In today’s fast-moving world, we have all become accustomed to instant online access. We do our banking, renew our home insurance and book hospital appointments online. We don’t even print photos anymore, we store them online

Northbridge Industrial Services Plc

Northbridge Industrial group revenue up 20% to £29.5 million

Northbridge Industrial Services plc (LON:NBI), the power reliability company, has announced its audited results for the year ended 31 December 2021, which are in line with increased market expectations. Highlights: ·  Group revenue from continuing operations up

Northbridge Industrial Services Plc

Loadbanks & Transformers for shipyards

Crestchic loadbanks are widely used for the testing of Gensets – Gas Turbines – UPS & DC systems.Crestchic’s loadbanks and transformers are popular with shipyards around the world, with over 30 years’experience gained from supplying rental

Northbridge Industrial Services Plc

Common reasons for generator failure (and how to avoid them)

With society increasingly reliant on electricity, interruptions in power supplies have the potential to cause chaos, impacting everything from our home lives to travel, business productivity to data integrity and, in more extreme cases, loss of