RE: What are they24 Feb 2015 10:20
from 30th Sept RNS
A number of projects where the membrane component is an essential part of the total structure have been identified by the Company. Preliminary design analyses and related cost estimations have been made for some of these projects and offers made to the relevant general contractors.
The Directors believe that although contracts will be awarded, the current political and military tensions in Europe and the Middle East are likely to delay their signing until early 2015. These potential contracts, include both stadia and infrastructure projects in the Middle East, five stadia projects related to the 2018 FIFA World Cup in Russia, as well as other identified projects in Western Europe including France, Spain and the UK.
If successful, such contract wins would increase revenues substantially in 2015/2016 and subsequent years, thus realising prospects for a return of Group profitability.
The Directors continue to believe that finding an industrial or financial partner with the necessary financial resources, either in their balance sheet or as credit lines, would enhance the engineering expertise and excellent marketplace reputation of Hightex. Such a development can only be of benefit to the Group, its shareholders and its employees. The Board will continue to review the possibility of raising further capital from current shareholders.