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)
For more information on Eco Buildings please visit www.eco-buildingsplc.com or contact:
| Eco Buildings Group plc Sanjay Bowry, Chief Executive Officer Fiona Hadfield, Finance Director | Tel: +44 (0)20 7380 0999
|
| Spark Advisory Partners Limited (Nominated Adviser) Matt Davis / James Keeshan | Tel: +44 (0)20 3368 3550 |
| Tavira Financial Limited (Broker) Oliver Stansfield/Jonathan Evans | Tel: +44 (0)20 3192 1739 |
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