Fox Marble looking to expand production facilities to meet burgeoning demand
Marble production is due to recommence once the quarries are operational again in March 2018
Fox Marble Holdings PLC (LON:FOX) has taken out an unsecured £500,000 loan with non-executive director Roy Harrison as it looks to ramp-up production next year.
The interest on the loan, which may be paid back any time within its two-year term, is 5%.
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The funds will be used to purchase additional equipment to accommodate the increasing demand for the company’s marble products.
Marble production is due to recommence once the quarries are operational again in March 2018, after the usual planned winter shutdown.
“This facility, which falls outside our normal operating budget, will allow us to provide the quarries with additional essential equipment and it will give us the ability to increase production substantially, in order to meet the current and growing, global demand for our material,” said Chris Gilbert, the chief executive of Fox Marble.
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