RCS - Eco Buildings Group - Factory Update

Eco BuildingsAnnouncement

19/10/2023 07:15

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RNS Number : 5944Q  Eco Buildings Group PLC  19 October 2023

RNS Reach

19th October 2023

Eco Buildings Group plc

(the "Eco Buildings" or the "Company")

Factory Update

 Equipment Installation Complete and Production of First Wall Imminent

Eco Buildings Group Limited (ECOB), the AIM listed modular housing company, is
pleased to announce that following the transfer of its innovative production
equipment from Dubai to its new purpose built 2,440 square metre factory in
Durres, it has completed a comprehensive refurbishment and upgrade programme
of all essential machinery required to produce its wall panels.

The refurbishment is expected to enhance production efficiency going forward
as well as extending the operational life of the manufacturing plant.  The
Company has assembled a team on site combining expertise from the factory in
Dubai, with engineering professionals local to the region.

Sanjay Bowry, CEO, Eco Buildings said, "I am pleased that this important
milestone has been reached ensuring a solid platform for manufacturing at
Durres for years to come.  We look forward to the imminent manufacture of our
first wall at the new facility.

The Company's management and engineering team have worked diligently to
deliver the new facility in Durres, needed for Eco Buildings to deliver on its
order book, beginning with its first 2 contracts as noted in the Admission
Document, valued at €114m in revenue spread over the next 3 years.

 

I look forward to keeping shareholders appraised of our progress over the
coming period."

 

Images of the factory can be found at Gallery 1 - Eco Buildings Group Plc
(eco-buildingsplc.com) (https://www.eco-buildingsplc.com/news)

 

For more information on Eco Buildings please visit www.eco-buildingsplc.com
(http://www.eco-buildingsplc.com) or contact:

 Eco Buildings Group plc                              Tel: +44 (0)20 7380 0999

 Sanjay Bowry, Chief Executive Officer

 Fiona Hadfield, Finance Director
 Spark Advisory Partners Limited (Nominated Adviser)  Tel: +44 (0)20 3368 3550

 Matt Davis / James Keeshan
 Tavira Financial Limited (Broker)                    Tel: +44 (0)20 3192 1739

 Oliver Stansfield/Jonathan Evans

 

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