Fox Marble Holdings PLC New order of processed marble confirmed (5280U)
July 30 2020 - 2:00AM
UK Regulatory
TIDMFOX
RNS Number : 5280U
Fox Marble Holdings PLC
30 July 2020
30 July 2020
Fox Marble Holdings plc
("Fox Marble" or the "Company")
New order of processed marble confirmed and increased rate of
production
Fox Marble, the AIM listed company focused on marble quarrying
and processing in Kosovo and the Balkans region is pleased to
announce that it has signed a new contract to supply 20,000 sq
metres of cut and polished paving tiles for installation in the
town square for the Municipality of Poduyeva in Kosovo.
This contract has been entered into with the contractors charged
with developing and completing the town square which will be paved
with material exclusively supplied by Fox Marble.
Fox Marble will be processing blocks of a range of marble from
its own quarries for this project and supplying this material from
its factory in Kosovo over the course of 2020/2021. The total value
of the contract is in excess of EUR700,000.
The factory in Pristine has seen an increase in activity in June
2020 and July 2020. The rate of production in the tile cutting area
in July 2020 increased by 100% compared to May 2020, with an
equivalent number of working days on the machine. This improvement
has occurred prior to the commissioning of the two new CNC
tile-cutting machines (RNS: 20 July 2020) which have now been
delivered to the factory and are being installed.
Chris Gilbert, CEO, commented "This contract to supply paving
tiles to a municipality is the second such large contract Fox
Marble has won this year. Our marble comes from our quarries in
Kosovo and North Macedonia and we look forward to reopening our
quarries as soon as the lockdown provisions ease. We are proud of
our workforce who have contributed so fully to improving the rate
of production in our factory allowing us to fulfil these
substantial contracts within our existing operating setup and look
forward to updating the market as we continue to win new
business"
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014
For more information on Fox Marble please visit
www.foxmarble.net or contact:
Fox Marble Holdings plc
Chris Gilbert, Chief Executive Officer Tel: +44 (0) 20 7380
0999
Fiona Hadfield, Finance Director Tel: +44 (0) 20 7380
0999
Allenby Capital (Joint Broker) Tel: +44 (0) 20 3394
Nick Naylor/Nick Athanas/Liz Kirchner 2973
(Corporate Finance)
Amrit Nahal (Sales)
Brandon Hill Capital (Joint Broker)
Oliver Stansfield Tel: +44 (0) 20 3463
5000
Cairn Financial Advisers LLP (Nomad)
Liam Murray Tel: +44 (0) 20 7213
Sandy Jamieson 0880
Notes to Editors:
Fox Marble (AIM: FOX), is a marble production, processing and
distribution company in Kosovo and the Balkans region.
Its marble products, which includes Alexandrian Blue,
Alexandrian White, Breccia Paradisea, Etruscan gold and Grigio
Argento and are gaining sales globally both to international
wholesale companies as well as being supplied directly into luxury
residential properties. In the UK these include among others St
George's Homes and Capital and Counties Plc's Lillie Square
development. In Sydney, Australia Rosso Cait, Alexandrian White and
Breccia Paradisea marble have been used in what is expected to be
Australia's most expensive residential property. These sales serve
to demonstrate the desirability of Fox's premium marble products as
the stone of choice in some of the most prestigious and expensive
residential developments around the world.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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