SigmaRoc create dedicated shipping subsidiary

New SigmaGys subsidiary to supplement bulk-shipping activities around British Isles and northern Europe

SigmaRoc plc, the AIM-listed construction materials business, have incorporated a new subsidiary, SigmaGsy Ltd, dedicated to bulk-shipping activities around the British Isles and northern Europe.

SigmaRoc anticipate the new subsidiary will add in excess of £200,000 per year to their operational EBITDA, starting from the second quarter of this year.

SigmaGsy will supplement the bulk-shipping requirements of cement majors and other partners in the region with a specialized offering, and support the shipping needs of SigmaRoc’s wholly owned subsidiary Ronez Ltd.

The new subsidiary will require an initial investment of £550,000 for the acquisition of highly specific equipment, including a dedicated bulk cement carrier.

David Barrett (pictured), executive chairman of SigmaRoc, commented: ‘This is a small but significant step forward for our business. 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.

‘This new subsidiary further enforces our strategy to operate in niche areas of this industry to the benefit of our investors.’