Fox Marble enters partnership with Chinese marble seller

15th Dec 2014 14:40

Fox Marble Holdings on Monday said its Kosovo subsidiary had entered a sales agency agreement with Chinese outfit Zhong Shengdestone (ZSC).According to the deal, which is set to start from January next year, ZSC will be the exclusive vendor of the company's block marble in China, subject to the requirement that it sell a minimum of 100,000 tons per year.The manufacturer said that minimum quantity of sales will generate between $2.5m and $0.5m per annum in revenues.Chief executive Chris Gilbert commented: "We are pleased to have finalised an agreement with a company in China which itself is a buyer of marble as well as having extensive relationships with other significant buyers who have indicated their interest in our stone."China is of course a large market and this arrangement forms part of our planned strategy to sell our stone around the world."Fox Marble's shares were down 2.19% to 19.42p on Monday at 15:08.