Fox Marble Holdings PLC New Showroom & Office (2637W)
December 10 2019 - 1:00AM
UK Regulatory
TIDMFOX
RNS Number : 2637W
Fox Marble Holdings PLC
10 December 2019
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
Chris Gilbert, Chief Executive Officer Tel: +44 (0) 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
Optiva Securities (Joint Broker) 5000
Christian Dennis / Jeremy King Tel: +44 (0) 20 3981
4173
Cairn Financial Advisers LLP (Nomad)
Liam Murray / Sandy Jamieson / Ludovico Tel: +44 (0) 20 7213
Lazzaretti 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 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.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
MSCTLBFTMBIMBJL
(END) Dow Jones Newswires
December 10, 2019 02:00 ET (07:00 GMT)
Fox Marble (LSE:FOX)
Historical Stock Chart
From Apr 2024 to May 2024
Fox Marble (LSE:FOX)
Historical Stock Chart
From May 2023 to May 2024