15th Mar 2016 10:32
LONDON (Alliance News) - Marble quarrying and finishing company Fox Marble Holdings PLC on Tuesday said it anticipates equipment being delivered to its Kosovo factory soon and said the factory should be up and running by mid-2016.
Fox Marble said the Italian supplier of the equipment needed to complete slab processing and resining production lines at the company's factory in Kosovo has confirmed the lines will be delivered within two months.
Fox Marble's purchase agreement with the supplier has been amended to reflect the delays to the order in 2015. Of the total EUR900,000 cost, EUR400,000 will be paid in cash, with the rest to be satisfied by the sale of a range of marble blocks by Fox to the supplier.
Fox Marble added broader work on its Kosovo factory has progressed well, with commissioning and opening of the factory due by the middle of 2016.
Fox shares were up 2.1% to 12.38 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
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