logo-loader
viewSigmaRoc

SigmaRoc to open new concrete plant in Jersey

The new plant is expected to reduce turnaround time and improve efficiency with outputs expected to be up to 80 cubic metres of concrete per hour

Jersey quarry
The new plant is located near the entrance of the group's quarry on the island

SigmaRoc PLC (LON:SRC) is preparing to open a new ready-mix concrete plant in Jersey as part of an expansion of its Ronez business in the Channel Islands.

The new plant, located near the main entrance of Ronez’s quarry on the island, will reduce turnaround time and improve efficiency for its collection and delivery customers with outputs expected to be up to 80 cubic metres of concrete per hour.

READ: SigmaRoc forecasts revenue jump of over 50% in full-year update

Sigma said the new plant would be opened on February 13 and was expected to result in increased sales as part of its improvement strategy.

The new plant will also ensure the island had enough concrete to serve future infrastructure plans, the company said, adding that there was “an encouraging pipeline” of major construction projects in Jersey including a new school and the re-development of the general hospital and airport.

Max Vermorken, chief executive of the construction materials group, said the previous “inefficiency” in the quarry’s delivery service, which previously required customers to drive to the bottom to pick up concrete, would be resolved by the new plant.

David Barrett, SigmaRoc’s chairman, added that the new plant would offer “greater convenience and service” and support the island’s infrastructure projects.

In mid-morning trading Monday, SigmaRoc shares were up 0.2% at 41.2p.

--Adds share price--

Quick facts: SigmaRoc

Price: 44 GBX

AIM:SRC
Market: AIM
Market Cap: £111.65 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of SigmaRoc named herein, including the promotion by the Company of SigmaRoc in any Content on the Site, the Company receives from said issuer...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

SigmaRoc PLC has been trading profitably each month of this year-to-date

SigmaRoc PLC's (LON:SRC) Max Vermorken speaks to Proactive London's Andrew Scott after announcing they've generated revenues of £42mln during the five months to the end of May 2020. He adds that each platform within the group, and the group itself, has been EBITDA positive for each month of this...

on 9/6/20

2 min read