14 Apr 2020 07:00
14 April 2020
Fox Marble Holdings plc
("Fox Marble" or the "Company")
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 been awarded a contract to supply up to 20,000 sq metres of paving to a local municipality for the town square in the town of Suhareka in Kosovo. Fox Marble has been selected to supply its material after a competitive tender process as is usual for local authority contracts.
This stone is to be supplied from Fox Marble's factory in Kosovo over the course of a year with the first 8,000 square metres to be delivered by September 2020. The stone will be processed from existing blocks of Grigio Argento, Flora and Alexandrian White already extracted and awaiting processing.
Material already specified and contracted under the first two stages of the project has a total value in excess of €400,000, and once all 20,000 square metres has been supplied is the project is expected to be worth in excess of €750,000.
As a result of the lockdown in place in Kosovo due to the Coronavirus, the supply of the material will be delayed until the local contractor installing the paving is allowed to resume work on this municipal project. However Fox Marble anticipates that work will resume on this project by the end of Q3 2020.
Chris Gilbert, CEO, commented "This contract to supply a local municipality to pave a large open public space confirms Fox Marble's position as a leading provider of dimension stone within Kosovo and is a testament to the efficiency of the factory and the quality of locally sourced marble for such a prestigious project. Our factory which as a designated industry is able to continue to operate to meet demand."
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 |
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Chris Gilbert, Chief Executive Officer | Tel: +44 (0) 20 7380 0999 |
Fiona Hadfield, Finance Director | Tel: +44 (0) 20 7380 0999 |
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Brandon Hill Capital (Joint Broker) |
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Oliver Stansfield Optiva Securities (Joint Broker) Christian Dennis/Jeremy King | Tel: +44 (0) 20 3463 5000
Tel:+44 (0) 20 3137 1902 |
Cairn Financial Advisers LLP (Nomad) |
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Liam Murray / Sandy Jamieson | Tel: +44 (0) 20 7213 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.