Fox Marble Holdings sign first contract for processing of third party blocks

Fox Marble Holdings (LON:FOX), the AIM listed company focused on marble quarrying and finishing in Kosovo and the Balkans region has announced that it is has signed its first contract for the processing of third party blocks, which represents an additional revenue stream for the Company.

Chris Gilbert, CEO, commented “This new revenue stream will allow 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. We look forward to our ongoing partnership with Inter Stone LLC. I look forward to updating the market in the New Year on our strategy and future growth plans.”

Fox Marble now has three principal sources of revenue from three separate activities, those of block sales from its Prilep quarry in North Macedonia; sale of processed material from blocks of its own material quarried in Kosovo and Macedonia and block processing for third parties.

Under this new third-party agreement, Fox Marble will process stone on behalf of Inter Stone LLC at the Company’s factory at Lipjan in Kosovo.  The contract is for twelve months and it is expected that Fox Marble will continue to process blocks of material each month.  The blocks due to be processed within the first monthly batch of material have been delivered to the factory site and production has begun. The first order under this contract, expected to be fulfilled in December 2019, will generate around €100k in revenues for the Company.  The level of production will be up to a maximum of 1,000 tons per month, depending on the capacity that Fox Marble requires for its production of its own material.  

This arrangement will allow Fox Marble to expand capacity at the factory, driving performance improvements, whilst maximising operating efficiencies. 

This optimisation performance and efficiency comes in part from the adoption of a new flexible multi-shift system and is part of an overall factory improvement programme achieved since the recent appointments of Francisco Espinosa (COO and Head of Sales) and Secundino Costas da Villa (Technical Factory Manager),who bring with them a wealth of natural stone experience.

Working capital continues to be carefully managed as we implement our plans for growth.

Click to view all articles for the EPIC:
Or click to view the full company profile:
    Share on facebook
    Share on twitter
    Share on linkedin
    Fox Marble Holdings PLC

    More articles like this

    Fox Marble Holdings PLC

    6 Reasons the Marble Trend is Here to Stay

    The use of marble design is not new, but it is definitely gaining more popularity this year. Marble has played a key role in architecture for centuries and is one of the favourite textures for creatives like professional

    Fox Marble Holdings PLC

    Earthy Luxury Is the ‘It’ Decor Trend

    Decor doesn’t change as fast as fashion, so it can take a few months before you really start to feel like a thing is, in fact, a “thing.” 2019 saw a rise in ’80s/Memphis-inspired shapes and bright colors, but it

    Fox Marble Holdings PLC

    Fox Marble Update on strategy

    Following on from the successful fund raising in December 2019 and building on the non-board appointment of an experienced executive team and new sales force, Fox Marble Holdings (LON:FOX) today provided the following update on its strategy. The

    Fox Marble Holdings PLC

    Design trends of 2020

    A trend that is omnipresent right now is marble – marble design pieces, marble walls and much more. Marble has had a huge revival in recent years although traditionally, the material had been confined to bathroom interiors and

    Fox Marble Holdings PLC

    Fox Marble sign two new processing agreements

    Fox Marble Holdings (LON:FOX), the AIM listed company focused on marble quarrying and finishing in Kosovo and the Balkans region, has today announced that it is has signed two new agreements for the processing of third-party blocks with

    Fox Marble Holdings PLC

    Fox Marble signs new agreement for sale of processed marble

    Fox Marble (LON:FOX), the AIM listed company focused on marble quarrying and processing in Kosovo and the Balkans regio, today announced that it has entered into an agreement with EBA Sh.p.K with the intention to provide processed marble

    Fox Marble Holdings PLC

    A Marbleous Trend

    Marble’s use in architecture, art and design can be traced back many thousands of years to early Egyptian and Mesopotamian cultures. Athens’ Parthenon, Rome’s Pantheon, Agra’s Taj Mahal, London’s Marble Arch and Michelangelo’s masterpiece ”David” are just some of the historic instances where