Fox Marble Holdings PLC Sales to Turkey and United States (2932X)
November 23 2017 - 1:00AM
UK Regulatory
TIDMFOX
RNS Number : 2932X
Fox Marble Holdings PLC
23 November 2017
23 November 2017
Fox Marble Holdings plc
("Fox Marble", "Fox" or the "Company")
Sales to Turkey and United States
HIGHLIGHTS
-- Further sales under the previously announced Agreement with
Simsekler Mermer Company ("Simsekler"), a premier natural stone
group based in Turkey
-- First entry this year into the USA market for material processed in the Fox Marble factory
Fox Marble, the AIM listed company focused on marble quarrying
and finishing in Kosovo and the Balkans region, is pleased to
announce that it has made further shipments under its Agreement
with Simsekler. To date, Fox has shipped more than EUR200,000 of
marble to the company, as part of the sales Agreement for a minimum
of EUR400,000, signed in April 2017.
Furthermore, the Company also announces today that it has
shipped and received payment on an order from Granite Planet LLC
("Granite Planet"). Granite Planet, a company specialising in the
wholesale, fabrication and installation of marble and granite,
based in Michigan, USA., selected 230 sqm of marble slabs across
Fox's entire collection following an inspection of the Company's
newly operational factory and processing capabilities. The company,
which is in the process of ordering two further containers this
month, has indicated their intention to purchase a further six
containers of marble prior to the end of 2017.
Fox Marble, CEO Chris Gilbert, commented: "We believe that the
recent purchase of marble made by Simsekler clearly demonstrates
and reinforces Fox's ability to satisfy large volume block
agreements. In addition, the order placed by Granite Planet LLC is
not only testament to the quality of marble products we are able to
produce, but it also represents an important new sales channel for
the Company into the United States, from which we anticipate future
orders."
For more information on Fox Marble please visit
www.foxmarble.net or contact:
Fox Marble Holdings plc
Chris Gilbert, Chief Executive Tel: +44 (0)
Officer 20 7380 0999
Fiona Hadfield, Finance Director Tel: +44 (0)
20 7380 0999
Brandon Hill Capital (Joint
Broker)
Oliver Stansfield Tel: +44 (0)
20 3463 5000
Cairn Financial Advisers LLP
(Nomad)
Liam Murray Tel: +44 (0)
20 7213 0880
Beaufort Securities Limited
(Joint Broker)
Elliott Hance Tel: +44 (0)
207 382 8300
Yellow Jersey
Georgia Colkin Tel: +44 (0)
Katie Bairsto 7825 916 715
Tel: +44 (0)
7946 424 651
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 Illyric White, Illirico
Selene, Grigio Argento and 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 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.
Fox Marble holds 40 year mining licences for six separate marble
quarries with a maiden JORC resource indicating an in-situ
valuation of approximately Euro 16.5 billion. Fox has taken three
of the six sites into production (the Drini and Maleshevë quarries,
both in Kosovo and from the Prilep Quarry in Macedonia) and
continues to increase production. Notably, Fox has access to over
300 million cubic metres (over 1bn tons) of premium quality
marble.
Marble demand continues to grow with stable pricing,
predominantly driven by the construction and real-estate
industries, on which Fox is looking to capitalise.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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