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Order from Karailas Marble boosts Fox Marble's order book

The Fox Marble order book has increased to €3.9 million for the year
Marble quarry. Fox Marble has quarries in Kosovo and the Balkans region,
Antolini, one of the largest marble block buyers, has visited the company's Sivec quarry in Macedonia

The order book at marble quarrying company Fox Marble Holdings PLC (LON:FOX) has been substantially boosted by an order from Karailas Marble.

Karailias is an international trader of marble and other commodities with a head office and marble processing facility in northern Greece. It has signed a deal for a minimum of €440,000 worth of Sivec marble blocks during 2016, taking at least 200 tonnes per month.

The first shipment is scheduled for this week.

To put the €440,000 order in context, in the first half of the current financial year, Fox Marble had revenues of €110,000.

The order book, which at the end of September 2015 stood at €2.8mln, has now shot up to €3.9mln for the year.

The good news does not stop there; Fox Marble also announced that Manchester-based developer Renaker Build Limited has appointed Fox Marble as its preferred supplier of natural stone on its projects.

Renaker supplies services to a range of developments throughout the United Kingdom, including commercial, residential and retail projects, and has 1,850 residential units currently in planning with an additional projected 5,000 units in their development pipeline over the next few years. 

Finally, Antolini Luigi & C. Spa, one of the largest block buyers based in Verona, Italy, has visited the company's Sivec quarry in Macedonia and purchased two Sivec blocks to be used in an initial trial at their processing facilities in Verona.  Subsequently, the company has confirmed it will be returning to the Fox Marble quarry to purchase further material in the near term. 

"We are pleased to be able to update the market with the strong progress made this year on new orders,” said Chris Gilbert, chief executive of Fox Marble.

“Moreover, Fox Marble's status as a preferred supplier for Renaker, an organisation with a proven track record of customer delivery and strong outlook, is most encouraging. We look forward to long-term strategic relationships with these customers," Gilbert added.



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