MOGP.L Share News (MOGP)

LONDON (Dow Jones)--Mountfield Group PLC (MOGP.LN), a construction group Tuesday announces that it has signed an agreement with Onslow Property Group, the owners and developers of SnOasis, under which Onslow has appointed Mountfield as its preferred building contractor for a number of construction contracts. MAIN FACTS: -SnOasis is a 350 acre, GBP300 million destination resort in Great Blackenham, Suffolk, which will include the world's first indoor winter sports resort with 14 winter sport disciplines as well as over 400 residential units, 350 chalets, a hotel and conference facilities alongside retail, transport and community elements. -The development, which is one of the largest construction projects in Europe, is expected to have a 30 month build program. -Mountfield, through its principal construction subsidiary Mountfield Building Group Limited, will be offered the opportunity to negotiate and undertake building contracts (subject to agreement on price and terms) some of which will arise out of the development. -The potential value of the contract work which will be made available to MBG under the agreement is expected to be substantial. -Mountfield is already in negotiations with Onslow regarding the first stage of contract works for building the community centre for the SnOasis village. -This will include retail and medical units and a police station. -Shares closed Monday at 3.3 pence. By Iain Packham, Dow Jones Newswires; 44-20-7842-9269; iain.packham@dowjones.com (END) Dow Jones Newswires July 27, 2010 02:56 ET (06:56 GMT)