New order - Phase II of Poduyeva

RNS Number : 9393N

Fox Marble Holdings PLC

04 February 2021

 

4 February 2021

Fox Marble Holdings plc

("Fox Marble" or the "Company")

New order - Phase II of Poduyeva announced

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 received a new order for the supply of cut and polished paving tiles as part of Phase II of the contract for the Municipality of Poduyeva in Kosovo (the "Project").

Phase II consists of the delivery of 6,600 square metres of processed material.  The Company will supply the block marble from its quarries before cutting and finishing in its factory in Kosovo. Work is expected to commence on the project in March 2020 and is expected to generate circa €250,000 to the Company.

This is the second order with respect to Poduyeva for Fox Marble.  Fox Marble began supplying material under the Poduyeva contract, details of which were previously announced on 30 July 2020, and has supplied 4,000 square metres of material to date.  The total contract is expected to be for approximately 20,000 sqm of material.

Chris Gilbert, CEO, commented "This new order to supply paving tiles to the Poduyeva Municipality is a testament to the value of our stone, the quality of our processed material and the efficiency with which we have supplied the stone for Phase I of the development in this town square.

We continue to be the leading provider of dimension stone within Kosovo.  Our marble comes from our quarries in Kosovo and North Macedonia and we look forward to reopening our quarries following the winter shutdown.

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.  I look forward to updating the market on additional contracts, which we expect will be formalised in the current quarter."

This announcement contains inside information for the purposes of Regulation 11 of the Market Abuse (amendment) (EU exit) Regulations 2019/310. The Directors of the Company take responsibility for this announcement.

For more information on Fox Marble please visit www.foxmarble.net or contact:

Fox Marble Holdings plc
Chris Gilbert, Chief Executive Officer	Tel: [phone]
Fiona Hadfield, Finance Director	Tel: [phone]
Brandon Hill Capital (Joint Broker)
Oliver Stansfield Allenby Capital (Joint Broker) Nick Naylor/Nick Athanas/Liz Kirchner (Corporate Finance) Amrit Nahal (Sales and Corporate Broking)	Tel: [phone] Tel: [phone]
Cairn Financial Advisers LLP (Nomad)
Liam Murray / Sandy Jamieson	Tel: [phone]

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. 

 

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