Eco Buildings Group plc has provided an update on its factory, stating that the equipment installation is complete and production of the first wall is imminent. The company has transferred its production equipment from Dubai to its new factory in Durres and has completed a refurbishment and upgrade program for all essential machinery. The refurbishment is expected to enhance production efficiency and extend the operational life of the manufacturing plant. The company has assembled a team on-site, combining expertise from the Dubai factory with local engineering professionals. CEO Sanjay Bowry expressed satisfaction with reaching this milestone and looks forward to the imminent manufacture of the first wall at the new facility. The company's management and engineering team have worked diligently to deliver the new facility in Durres, which is needed to fulfill the company's order book. The first two contracts, valued at £114 million in revenue spread over the next three years, will be the starting point. The company plans to keep shareholders updated on its progress.
In addition to the factory update, Eco Buildings Group plc has also released its interim results for the period ended 30 June 2023. The full report can be accessed through the provided link.
The news also mentions recent articles, including the final results for the year ended 31 December 2022, admission to trading on AIM and the first day of dealings, the result of a general meeting, changes in advisers, changes in the website, and directorate changes. The company has also provided a TR-1 form for notification of major holdings and an update on the confirmation of the admission date, an updated timetable, and the shareholder record date.
Overall, Eco Buildings Group plc is making progress with its factory setup and is preparing to start production at its new facility in Durres. The company has secured significant contracts and aims to keep shareholders informed of its progress.