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Trading Update

19 May 2010 10:04

RNS Number : 1826M
Pan Pacific Aggregates PLC
19 May 2010
 

 

19 May 2010

 

 

 

Pan Pacific Aggregates plc

 

("PPA" or the "Group")

 

Trading Update

 

Pan Pacific Aggregates plc (AIM:PPA), the British Columbia based aggregates company, is pleased to provide the following trading update on the Group's operations.

 

Highlights

Quadling Quarry is already in cash flow

Demand for aggregates is increasing with further infrastructure spend

Robust local economy has led to increased development activity

New processing plant installation underway to meet increased demand and to expand product sales into the market with improved margins

 

PPA is currently experiencing a significant increase in enquiries, orders and sales from local Vancouver contractors to supply aggregates. This increase in demand is due to a perceived shortage of aggregates in the area as well as improved levels of development activity. The re-opening of the Quadling Quarry on 26 March 2010 leaves PPA in a strong position to supply interested parties with the desired aggregates product. Following the re-opening, the Group has experienced a substantial rise in demand, with up to 86 trucks a day collecting approximately 1,500 tonnes of aggregate from the quarry.

 

Currently, PPA is producing a limited range of non-specification aggregates to the market. The Group's new crusher processing plant is currently being installed and will be ready for production by the end of May 2010. Thereafter, the quarry will produce and sell a diversified range of specification product which will generate further sales with improved margins.

 

 

- Ends -

 

For further information:

Pan Pacific Aggregates plc

 

William Voaden, Managing Director

Tel: +44 (0) 20 7096 9580

 

 

 

Matrix Corporate Capital LLP

 

Louis Castro / Tim Graham

Tel: +44 (0) 20 3206 7000

 

 

 

VSA Capital Limited

 

Paul Backhouse

Tel: +44 (0) 20 7096 9589

 

Media enquiries:

Abchurch Communications Limited

 

Henry Harrison-Topham / Nick Probert

Tel: +44 (0) 20 7398 7702

 

 

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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