Fox Marble Holdings plc (LON: FOX), the AIM listed company focused on marble quarrying and finishing in Kosovo and the Balkans region has today announced it has entered into a new sales agreement with a customer based in China.
The Sales Agreement is for a minimum of 10,000 tonnes of Illirico Selene marble over the next year, and includes a range of grades of marble blocks. The buyer will be granted priority seller status in China.
Chris Gilbert, Fox Marble Holdings plc CEO, commented
“This buyer has been a recurring customer of Fox Marble over the last year, however this sales agreement formalises the relationship between us, ahead of an expected increase in volume of sales. We look forward to a long ongoing relationship. “
Fox Marble is a marble production, processing and distribution company in Kosovo and the Balkans region.
Its marble products, which includes Illirico Bianco, Illirico Selene, Grigio Argento and 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.
Fox Marble holds 40 year mining licences for marble quarries in Kosovo and Macedonia. Fox has taken four sites into production (Maleshevë, Syriganë and Cervenillë quarries, in Kosovo and from the Prilep Quarry in Macedonia) and continues to increase production.
Marble demand continues to grow with stable pricing, predominantly driven by the construction and real-estate industries, on which Fox is looking to capitalise.