Market News

Fox Marble adds state-of-the-art machinery to Kosovo plant

16/04/2018 15:53

(ShareCast News) - Marble quarrying and finishing company Fox Marble announced on Monday that it has installed a new state-of-the-art computer numerical control (CNC) machine and a block vacuum pump machine in its processing factory in Pristine, Kosovo. The AIM-traded firm said the additions to the new marble processing factory would provide additional capacity to meet increased order flow and improve margins. It said the brand new CNC machine was capable of automatically processing varied shapes of material from slabs and small blocks, including 1,500 square metres of marble tiles per day. The machine was fully operational, and just manufactured the company's first order in which the whole process was completed in house for 'cut-to-size' tiles. Currently the only one of its kind in the Balkans and Greece, the CNC machine was supplied by Gravellona Macchine Marmo, which Fox described as one of the leading manufacturers of cutting and polishing machinery based in northern Italy. In addition, Fox Marble said it completed the installation of a block vacuum pump machine, which was a more cost-effective way of adding to the inventory of marble blocks eligible for sale. This machine allowed resin to be absorbed by blocks that had micro-cracks or fractures in them. As a result, the machine would improve the yield achievable from the quarries, and increase the pricing of blocks which would otherwise have been considered lower quality. "Our fully operational factory now has the additional capability to process material-to-order at speed," said Fox Marble CEO Chris Gilbert. "We are confident that the cost effectiveness, flexibility and improved sophistication in our processing, delivered by this machinery, will impact positively on margins in the current year. "The installation of this new machinery also allows us to more effectively access the local market for tiles and 'cut-to-size' orders, as well as servicing our international customers."

It is important to remember that the value of investments can go down as well as up and it is possible to get back less than you invested, especially in the early years. Past performance is no guarantee of future returns and interest rates and dividends are variable and cannot be guaranteed in the future. Any tax treatment mentioned is based on personal circumstances and current legislation which is subject to change. In the event of a client having a complaint about our services we will do our best to resolve that complaint promptly and to the client's satisfaction. However if we are unable to do so, the client may have the right to complain to the Financial Ombudsman Service. Further information can be found on the Financial Ombudsman Services's Website at