Marble quarrying and finishing company Fox Marble has announced a €400,000 sales agreement with Simsekler Mermer Company, one of Turkey's premier natural stone groups to supply its IIIirico Selene and Sivec marble product.

Simsekler owns nine marble quarries in Turkey as well as three factories and two showrooms and warehouses located in Ankara and Istanbul.

The agreement, which will see deliveries completed over 2017, marks the company's first significant customer and entry into Turkey and confirms Fox Marble's international expansion strategy as it positions itself as a leading marble quarrying, processing and distribution company in the region.

In light of this new agreement, the company has increased its estimate for its order book for 31 December 2017 to €4.4m which it expects to be recognised as revenue in the financial year to 31 December 2017.

The Agreement was finalised following the satisfactory delivery and completion of a sample order of three blocks of Illirico Selene, which was paid for and shipped to Simsekler in February 2017.  Simsekler returned to the quarry in April 2017 and selected and paid for a further 21 blocks of Illirico Selene as well as 4 blocks of Sivec from the Company's Macedonian quarries together totalling 330 tons which are being shipped to Turkey this month. This forms part of the quantity agreed in the Agreement.
 
Fox Marble, CEO Chris Gilbert, commented: "This new sales order marks our first move into the significant and potentially lucrative Turkish marble market. This new relationship with Simsekler, we believe, further underpins the commercial viability of our marble and we look forward to working with Simsekler during the course of 2017 and beyond as we anticipate receiving further material orders.

"It is significant that Fox Marble is able to supply marble to a territory which is itself one of the major exporters of natural stone and a testament to the quality and colour of the marble within its quarries in Kosovo."

www.foxmarble.net