19th May 2010 10:04
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19 May 2010 |
Pan Pacific Aggregates plc
("PPA" or the "Group")
Trading Update
Pan Pacific Aggregates plc (AIM:PPA), the British Columbia based aggregates company, is pleased to provide the following trading update on the Group's operations.
Highlights
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Quadling Quarry is already in cash flow |
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Demand for aggregates is increasing with further infrastructure spend |
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Robust local economy has led to increased development activity |
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New processing plant installation underway to meet increased demand and to expand product sales into the market with improved margins |
PPA is currently experiencing a significant increase in enquiries, orders and sales from local Vancouver contractors to supply aggregates. This increase in demand is due to a perceived shortage of aggregates in the area as well as improved levels of development activity. The re-opening of the Quadling Quarry on 26 March 2010 leaves PPA in a strong position to supply interested parties with the desired aggregates product. Following the re-opening, the Group has experienced a substantial rise in demand, with up to 86 trucks a day collecting approximately 1,500 tonnes of aggregate from the quarry.
Currently, PPA is producing a limited range of non-specification aggregates to the market. The Group's new crusher processing plant is currently being installed and will be ready for production by the end of May 2010. Thereafter, the quarry will produce and sell a diversified range of specification product which will generate further sales with improved margins.
- Ends -
For further information:
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Pan Pacific Aggregates plc |
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William Voaden, Managing Director |
Tel: +44 (0) 20 7096 9580 |
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Matrix Corporate Capital LLP |
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Louis Castro / Tim Graham |
Tel: +44 (0) 20 3206 7000 |
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VSA Capital Limited |
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Paul Backhouse |
Tel: +44 (0) 20 7096 9589 |
Media enquiries:
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Abchurch Communications Limited |
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Henry Harrison-Topham / Nick Probert |
Tel: +44 (0) 20 7398 7702 |
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