Eco Buildings Group PLC - London-based prefabricated modular housing products, formerly named Fox Marble Holdings PLC - Announces completion of new factory in Albania, close to new commercial port terminal in Durres. Has relocated operational team to Albania from Dubai following decommissioning of Dubai plant and terminal. All plant, equipment and vehicles previously operated in Dubai have been moved to Durres. Eco Buildings says that "Progress is continuing apace" and expects new factory to be operational and fully commissioned in the third quarter. Company then will be able to start production and sales of modular single dwelling units against EUR114 million contracted order book.
Chief Executive Officer Sanjay Bowry says: "We are currently well advanced in several further negotiations in other markets where our fast, green building system is generating significant interest as a tool to address the acute social deficit in affordable housing. Following the successful completion of the [recovery time objective], we are now well positioned to conclude these discussions and I look forward to providing updates on additional contracts over the coming weeks."
Current stock price: 31.00 pence, up 6.9% in London on Thursday afternoon
12-month change: down 44% from placing price of 55p for relisting earlier this month
By Emma Curzon, Alliance News reporter
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Eco Buildings (ECOB)