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Turbotec Products

  • BY: Andrew Hore |
  • POSTED: 13/07/2011 |

US-based heat exchanger tubing and components manufacturer Turbotec Products has been awarded an additional £210,000 in compensation from former majority shareholder Thermodynetics, Inc.

That brings the total awarded by the London courts to £560,000. The additional cash will be paid on 18 July.

Thermodynetics had claimed it was owed an unpaid dividend but it lost its case.

Net debt was $3.57m at the end of March 2011.

At 38.5p a share, up 2p, Turbotec is valued at £4.93m. 

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