:: Lyngdal Recycling AS ::

January 28 2012
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Administration

RECYCLING OF OFFSHORE MATERIALS

Lyngdal Recycling AS

Lyngdal Recycling is a newly founded enterprise. The company's main objective
is to ensure environmentally friendly recycling of offshore materials at low cost

The company is situated in the Hausvik Industrial area on the outer skirts of the Rosfjord in the municipality of Lyngdal - near the southernmost point of Norway. Total available area is 149 acres (600 mål), of which a planned 600 meter quay will have a water depth of 18-25m.

Lyngdal Recycling has received permission from the Norwegian Pollution Control Authority to be able to perform this kind of activity at this particular place. The sailing approach to the harbour from open sea is short, wide an easy to navigate. Maximum water depth in the sailing area is 58 meters.

The harbour is sheltered from waves approaching from the open sea. The harbour is ice free all year round. There are no tidal water or strong water currents in the harbour area.

The industrial area has an optimal location with regard to sailing distance to the continent and to the oil installations in the southern part of the North Sea.

Lyngdal Recycling is 50 % owned by Br. Hansen Holding AS, former owner of AS Grave Service in Skien, one of Norway's largest demolition companies. The other half is owned by Hellik Teigen AS in Hokksund, Norway's leading recycler of metals and steel. With many years of experience and knowledge both from the re-cycling and demolition industries this company has significant advantages in recycling offshore material at an optimal location in the southern Norway.