REG - Eco Buildings Group - Factory in Albania fully automated and operational

Eco BuildingsAnnouncement

17/06/2024 07:15

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RNS Number : 5990S  Eco Buildings Group PLC  17 June 2024

Certain information contained within this Announcement is deemed by the
Company to constitute inside information as stipulated under the Market Abuse
Regulation (EU) No. 596/2014 ("MAR") as applied in the United Kingdom. Upon
publication of this Announcement, this information is now considered to be in
the public domain.

 

17(th) June 2024

Eco Buildings Group plc

(the "Company" or the "Group")

Eco Factory in Albania fully automated and operational

Yields Significant Improvements in Productivity, Reduced Cycle Times and
Increase in Operating Efficiency

Eco Buildings Group Limited (AIM: ECOB), the UK-listed modular housing
company, after a lengthy process of innovation and equipment and software
upgrades, announces that it has now achieved fully automated production at its
Albanian facility.  This is a significant enhancement for the production
line. The fully automated production line not only delivers walls of the
highest-ever quality and consistency, but equally, does so at significantly
higher output per day than previously achieved.  Production time has been
reduced by 33% thus increasing operating efficiency.

A single production line is now capable of producing over 177,000 sqm of
GFRG  glass fibre reinforced gypsum) walls per year - enough to deliver768
houses a year based on a standard 60 sqm two story flat roof detached house
plan.

These improvements have been achieved through incorporating new technology
into the production process and a rigorous engineering overhaul of every
component. This has yielded a reduction in cycle-time to produce a wall,
vastly improved panel quality standards and increased operational efficiency
and cost reduction.  This upgrade will improve revenue and profit projections
for the current production line in Albania, now and into the future. It will
also increase the Company's store of Intellectual Property. These innovations
will be incorporated into further production lines as they are installed and
as the Company expands into new markets such as the Republic of Chile.

Sanjay Bowry, CEO, Eco Buildings said, "The process to get our production
line, in Durres, to this stage of fully automated continuous production has
been challenging and was achieved due to the outstanding skills and innovation
of our local teams. It has resulted in a significant upgrade in productivity,
efficiency and output. Additionally, we have added to our IP and further
differentiated ourselves from the competition. The developments made in our
software systems, which will drive productivity, efficiency and increase
production pushing out the need for a second line in Durres.  In addition, it
is important to stress that these improvements will now be standardised in all
our subsequent production lines.  I'd like to thank all stakeholders for
their patience as we have innovated our production facility to fully automated
production and look forward to now significantly accelerating our outreach to
the market as the Company delivers into its existing contracts and enters new
markets that are already identified."

 

 

 

Further information is available on Eco Buildings website:
www.eco-buildings.net (http://www.eco-buildings.net)

 

For more information contact:

 Eco Buildings Group plc                               Tel: +44 (0) 207 380 0999

 Sanjay Bowry, Chief Executive Officer

 Fiona Hadfield, Finance Director

 Spark Advisory Partners Limited (Nominated Adviser)   Tel:  +44 (0) 203 368 3550

 Matt Davis / James Keeshan

 Tavira Securities Limited (Broker)                    Tel:  +44 (0) 203 192 1739

 Oliver Stansfield / Jonathan Evans

 

 

Notes

The Company has acquired proven and innovative prefabricated technology which
has been in development and commercial use since 2006. Eco Buildings' range of
prefabricated, green housing products based on glass fibre reinforced gypsum
panels ("GFRG") provides a construction solution for both affordable and
high-end housing.

Eco Buildings has already secured two sales contracts with major construction
companies, one in Albania, the other in Kosovo, which are expected to generate
gross sales revenue of approximately €144 million over the first three years
following Admission.

The market share for factory-based building technology is expected to grow
significantly over the coming years as private developers and the public
sector seek to address the substantial and growing deficit in housing stock
and issues of construction cost, speed and quality and housing affordability.

 

 

 

 

 

 

 

 

 

 

 

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