10 Dec 2019 07:00
10 December 2019
Fox Marble Holdings plc
("Fox Marble" or the "Company")
New Showroom & Office in Pristine to support anticipated Sales Growth
Fox Marble, the AIM listed company focused on marble quarrying and finishing in Kosovo and the Balkans region is pleased to announce that in January 2020 it will be opening a new large showroom and office in Pristine, Kosovo in which to showcase its materials in a professional and attractive environment. This will allow its material to be displayed in large format slab form under proper controlled lighting to present the stone under the best conditions. This initiative is expected to help generate increased levels of sales.
Fox Marble is experiencing a developing local market for its processed material and range of products from cut and polished tiles to stair pieces, door and window lintels to slabs, supporting increased production at the factory.
This will help underpin the 3-year factory expansion plan currently being developed by the recently appointed COO/GM Sales, in conjunction with the anticipated increased demand being generated by a new sales team both domestically and internationally.
It is expected that there is a sufficient stock of block material at Fox Marble's Kosovo quarry sites to supply the factory for 18 - 24 months, without further quarrying there, in conjunction with the ongoing production growth from its quarry in Prilep, Macedonia.
Chris Gilbert, CEO, commented "I am pleased this new facility has been opened, which is a demonstration of our confidence in the growth potential of the business, and I expect this to help drive continued sales growth over the coming months and the medium term. I look forward to updating the market on forward strategy in the new year."
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 3981 4173
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Cairn Financial Advisers LLP (Nomad) |
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Liam Murray / Sandy Jamieson / Ludovico Lazzaretti
| Tel: +44 (0) 20 7213 0880 |
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Notes to Editors:
Fox Marble (AIM: FOX), is a marble production, processing and distribution company in Kosovo and the Balkans region.
Its marble products include Alexandrian White, Alexandrian Blue, produced from the Company's Prilep quarry in Macedonia, and Breccia Paridisea and Rosso Cait and Grigio Argento, produced from its quarries in Kosovo, are gaining traction 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.
Marble demand continues to grow with stable pricing and Fox is capitalising on this growth internationally.