17 Oct 2011 07:00
Press Release 17 October 2011
Contract Win
"Prince Sultan Cultural Centre", King Saud University,
Riyadh, Kingdom of Saudi Arabia
Hightex Group, a leading systems engineering company, which designs, fabricates and installs large area, cable supported, lightweight membrane roofs and façades worldwide announces that it has been awarded a significant contract for the Prince Sultan Cultural Centre in Ryiadh, Saudi Arabia. Hightex will design, fabricate and install the main membrane tent roof system including the complete cable net and steel structure at the Centre.
The contract was awarded by Al Mansouriah Group, acting as General Contractor for the King Saud University and is part of an extensive investment programme by the Ministry of Higher Education of the Kingdom of Saudi Arabia in the region's educational, sporting and cultural facilities. The structure will comprise an outer membrane in PTFE and an inner membrane in PVC, each with an area of 16,000 sqm. In addition there is an area of 1,000 sqm of ETFE cushions.
The win is further validation of the Company's strategy to focus on engineering projects that include installation and commissioning of cable structures and have a contract value of €5 million or more. This contract is valued significantly in excess of that figure. The design work will commence immediately and the planned completion date is early 2013.
Charles DesForges, Chairman, stated "Hightex Group is delighted to have been selected for this innovative project. It is a further tribute to the skills and experience of the Hightex team and confirms our position as a leading global systems engineering company focused on the design and installation of cable supported, large area membrane structures for sporting and civil structures".
For further information:
Hightex Group plc | |
Charles DesForges, Executive Chairman | Tel: +44 (0) 20 7603 1515 |
Frank Molter, Chief Executive Officer
| www.hightexworld.com |
FinnCap | |
Geoff Nash - Corporate Finance | Tel: +44 (0) 20 7600 1658 |
Tom Jenkins, Simon Starr - broking | www.finncapitalmarkets.com |
Media enquiries
Hudson Sandler | |
Charlie Jack | Tel: +44 (0) 20 7796 4133 |
Nathan Field | www.hudsonsandler.com |
Notes to Editors
Hightex Group is a leading systems engineering company, which designs, fabricates and installs large area, light weight membrane roofs and façades worldwide. The membranes are typically used in roofs and façades for sporting stadiums and arenas; airport terminals; train stations; shopping malls and other buildings. This type of structure is a competitive alternative to glass as it is cheaper, lighter in weight so that it can span larger areas, and safer as well as being flexible to create complex shapes. Hightex uses environmentally friendly materials and is focussed on innovative technology and coatings, which help to reduce a building's energy costs.
Hightex, one of only two international companies to design and install these structures worldwide, has been involved in the construction of a number of very high profile buildings including the Olympic Stadium in Kiev, venue for the final of Euro 2012, the first retractable membrane cushion roof at BC Place, the Cape Town Stadium and the roof of the FNB Stadium in Johannesburg built for the 2010 FIFA World Cup, the Wimbledon Centre Court retractable roof, the Burj al Arab Hotel in Dubai and the roof of the Suvarnabhumi International Airport in Bangkok.
The global market for membrane structures is estimated by the Hightex directors to approach around €350 million a year, and is growing as a result of the demand for energy efficient buildings and the popularity and cyclical nature of sporting events, which give rise to a continuing need for upgraded and new buildings and stadiums.
Headquartered in Bernau, Germany the Group employs approximately 45 people and is listed on the AIM market of the London Stock Exchange (LSE: HTIG). Further information on Hightex Group plc can be found at www.hightexworld.com