The subsidiary will support cement majors and sister subsidiary Ronez Limited in the British Isles and northern Europe.
Construction materials company SigmaRoc has established a dedicated shipping subsidiary dubbed SigmaGsy Limited to ship bulk goods around the British Isles and northern Europe, the company said.
SigmaGsy will support its sister subsidiary company, Ronez Limited, and other cement majors in the area.
The new shipping company will require an initial investment of 550,000 pounds (U.S. $684,064) in order to acquire the specific equipment, including a dedicated bulk cement carrier.
“As a relatively new niche player in a high volume bulk market, we are able to bring to the table shipping solutions which complement the requirements of our sector,” SigmaRoc Executive Chairman David Barrett said. “This new subsidiary further enforces our strategy to operate in niche areas of this industry to the benefit of our investors.”
Looking ahead, SigmaRoc anticipates its new subsidiary will add in excess of 200,000 pounds per year to its operational earnings before interest, taxes, depreciation and amortization, starting from the second quarter of this year.
SigmaRoc establishes new bulk shipping subsidiary
