Fox Marble Holdings PLC New order of processed marble confirmed (5280U)

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: [phone] 
                                           0999 
 Fiona Hadfield, Finance Director         Tel: [phone] 
                                           0999 
 
 Allenby Capital (Joint Broker)            Tel: [phone] 
  Nick Naylor/Nick Athanas/Liz Kirchner     2973 
  (Corporate Finance) 
  Amrit Nahal (Sales) 
 
 Brandon Hill Capital (Joint Broker) 
 Oliver Stansfield                        Tel: [phone] 
                                           5000 
 Cairn Financial Advisers LLP (Nomad) 
 Liam Murray                              Tel: [phone] 
  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.

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July 30, 2020 02:00 ET (06:00 GMT)