CDH agrees roadworks co-funding with Walloon Govt
SigmaRoc plc / EPIC: SRC / Market: AIM / Sector: Construction & Materials
03 July 2020
SigmaRoc plc
('SigmaRoc' or the 'Company')
CDH agrees roadworks co-funding with Walloon Government
SigmaRoc plc, the AIM listed buy-and-build construction materials group, is pleased to announce that its wholly owned Belgian subsidiary, Carrières du Hainaut ('CDH'), which was acquired in Q4 2019, has signed an agreement with the Walloon Government in Belgium according to which it will co-fund c.€0.7m of an estimated €3.0m of infrastructure works in the context of its quarry extension project at Soignies (the "Extension") (the "Agreement").
The works, which are expected to commence later this year, consist of the displacement of two sections of public road currently separating 116 hectares of CDH's 351 hectares of permitted land and minerals from its main site. Once these works are finalised, CDH will begin its process to install a new crushing and screening plant, thereby enabling the Company to move forward with the extraction of construction aggregates and high grade limestone across its extension area.
Commenting on the Agreement, Minister Philippe Henry, Vice-President of the Walloon Government and Minister for Climate, Energy and Mobility in charge of Infrastructure, said:
"The Blue Stone quarrying sector is an emblematic sector of Wallonia. It works with a natural material of high quality; it employs many men and women who extract and valorise this jewel of nature; it exports and takes abroad an image of excellence of our region. Support for the extension project will perpetuate an activity with good future prospects and will help to maintain the work of this natural and environmentally friendly material on Walloon territory."
Commenting on the Agreement, Max Vermorken, CEO of SigmaRoc, said:
"This is an essential step for the future of CDH. The Extension aims to secure access to our, thus far unexploited, blue stone reserves, a necessary condition for the CDH to continue its activity for several generations. We would like to thank the Walloon Region for its support which enables us to guarantee the continuity of the business."
For further information, please contact:
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SigmaRoc plc Max Vermorken
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Tel: +44 (0) 207 002 1080 |
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Strand Hanson Limited (Nominated and Financial Adviser) James Spinney / James Dance / Jack Botros
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Tel: +44(0) 207 409 3494 |
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Liberum Capital (Co-Broker) Neil Patel / Jamie Richards / Jonathan Wilkes-Green / William Hall
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Tel: +44 (0) 203 100 2000
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Peel Hunt (Co-Broker) Mike Bell/Ed Allsop
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Tel: +44 (0) 20 7418 8900 |
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Rubik Communications (Financial PR adviser) Andrea Mora / Charlotte Hollinshead |
Tel: +44 (0) 207 002 1080
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The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement via Regulatory Information Service, this inside information is now considered to be in the public domain.
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