REG - SigmaRoc PLC - Strategic Alliance for Sustainable Limestone in UK

SigmarocAnnouncement

01/07/2024 07:00

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RNS Number : 4639U  SigmaRoc PLC  01 July 2024

1 July 2024

 

(EPIC: SRC / Market: AIM / Sector: Construction Materials)

 

SIGMAROC PLC

 ('SigmaRoc', the 'Group' or the 'Company')

 

SigmaRoc and Duo Group Forge Strategic Alliance

to Revolutionise Sustainable Limestone Aggregates Supply in the UK

 

SigmaRoc, the Northern European quoted lime and limestone group, is pleased to
announce it has entered into a 10-year ground-breaking strategic alliance with
Duo Group to produce and sell sustainable limestone aggregates in the UK
market. This 10-year agreement has the potential to generate incremental
revenue of over £150 million over the course of the alliance, whilst
significantly reducing SigmaRoc's environmental impact through the repurposing
of limestone quarry waste.

Under the terms of the agreement, Duo Group has agreed to establish
state-of-the-art processing plants at up to seven SigmaRoc limestone quarries
to reprocess historically uneconomical quarry tip waste into a premium
construction material. The process therefore advances SigmaRoc's ambition of
utilising 100% of the resource it quarries.

Innovative Waste Processing

Quarry tips, also known as spoil tips, are accumulations of previously
uneconomical processable material removed by the quarrying operations. By
repurposing this previously overlooked resource, using state-of-the-art
processing equipment installed by Duo Group, the Strategic Alliance aims to
extend the operational life of quarries, conserve natural resources, and align
with sustainable development goals. This initiative also supports SigmaRoc's
ambition of utilising 100% of the resource it quarries, ensuring a more
sustainable future for the construction and infrastructure sectors.

Alliance Structure

Under the agreement, Duo Group will establish large scale state-of-the-art
reprocessing plants to cover material preparation and processing, load and
haul, plant operation, and material dispatch. SigmaRoc will put at the
disposal of the Strategic Alliance all unprocessed "tipped" materials which
previously held no commercial value.

Martin McWilliams, Group Managing Director of Duo Group, commented:

"We are delighted to enter into this agreement with SigmaRoc. SigmaRoc has
become a major player in recent years in the UK and Northern Europe. They have
a clear roadmap on their growth journey and their ambition to reach 100%
utilisation of all production materials. We are excited to be part of this
journey. We share equal values in sustainability and innovation, and together,
we can achieve significant milestones together by reducing the environmental
footprint of the aggregates industry and helping to meet the sector's ESG
targets."

Michael Roddy, Group Managing Director of the North West Region at SigmaRoc,
commented:

"We are delighted to partner with Duo Group on this project. This partnership
marks another significant step forward in our commitment to sustainability."

Charles Trigg, Chief Technical Officer at SigmaRoc, commented:

"This is exciting news for the Group, proving both our ability to drive
increased value as well as bringing us closer to achieving our goal of 100%
utilisation of all production materials."

Information on the Company is available on its website, www.sigmaroc.com
(http://www.sigmaroc.com) .

 

 

For further information, please contact:

 

 SigmaRoc plc                                Tel: +44 (0) 207 002 1080

 Max Vermorken (Chief Executive Officer)

 Garth Palmer (Chief Financial Officer)      ir@sigmaroc.com (mailto:ir@sigmaroc.com)

 Tom Jenkins (Head of Investor Relations)

 Panmure Liberum (Nomad and Co-Broker)       Tel: +44 (0) 203 100 2000

 Scott Mathieson / John More / Dru Danford

 Deutsche Numis (Co-Broker)                  Tel: +44 (0) 20 7260 1000

 Richard Thomas / Hannah Boros

 Walbrook PR Ltd (Public Relations)          Tel: +44 20 7933 8780  sigmaroc@walbrookpr.com

 Tom Cooper / Nick Rome                      Mob: +44 7971 221972

 

About SigmaRoc plc:

SigmaRoc is a quoted lime and limestone group targeting quarried materials
assets in the UK and Northern Europe.

Lime and limestone are key resources in the transition to a more sustainable
economy. New applications for lime and limestone products as part of a drive
for sustainability include the production and recycling of lithium batteries,
the decarbonisation of construction including through substitution of
cementitious material and new building materials, and environmental
applications including lake liming, air pollution and direct air capture.

SigmaRoc seeks to create value by purchasing assets in fragmented materials
markets and extracting efficiencies through active management and by forming
the assets into larger groups. It seeks to de- risk its investments through
the selection of projects with strong asset backing.

About Duo Group:

Duo Group is a leading provider of material handling and processing solutions,
with a strong focus on innovative technology and sustainability. With
extensive experience in the aggregates industry, Duo Group is dedicated to
reducing environmental impact while enhancing operational efficiency.

Information on the Company is available on its website, www.duogroup.co.uk

 

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