17th Feb 2020 10:55
(Alliance News) - Fox Marble Holdings PLC on Monday said it has signed two new agreements with Egzoni ShpK and Skifteri ShpK for the processing of their stone blocks.
The London-based marble-quarrying firm said the two-year deals together will generate annual revenue of around EUR300,000 and will see Fox process an expected 325 tonnes of stone per month for Egzoni and Skifteri at its facility at Lipjan in Kosovo.
"These new agreements demonstrate the validity of the decision to introduce this new revenue stream where we provide marble cutting and polishing services to other companies quarrying in the wider Balkan region. It allows Fox Marble to utilise more of its factory capacity and increase operating efficiency, whilst still processing its own marble for sale globally as well as in the wider Balkan market," said Chief Executive Chris Gilbert.
The stock was trading 11% up at 2.62 pence each on Monday morning in London.
By Ife Taiwo; [email protected]
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