7 Dec 2011 07:00
Press Release 7 December 2011
Contract Win
Maracana Stadium in Rio de Janeiro, Brazil
Hightex Group, a leading systems engineering company, which designs, fabricates and installs large area, cable supported, lightweight membrane roofs and façades worldwide is delighted to announce that it and its Brazilian construction partner SEPA have been selected to engineer and install the supporting cable system and membrane structure of the roof over the Maracana Stadium in Rio de Janeiro, Brazil where the final of the FIFA 2014 World Cup, hosted by Brazil, will be played.
The project has a value to Hightex substantially in excess of EUR 10 million. The structure is planned to be completed in the first half of 2013. Hightex continues vigorously to pursue three other stadia projects in Brazil related to the 2014 World Cup.
Both the signature of the contract formalising the agreement and the start of engineering work are expected during December.
Frank Molter, Chief Executive Officer, commented:
"We look forward to working with SEPA on this project and hope to secure further contracts in Brazil and elsewhere globally during the course of 2012. The iconic Maracana stadium, as the venue for the 2014 World Cup final, will be seen globally by hundreds of millions of people. To be selected to engineer the cable system and membrane roof is a highly prestigious achievement and an endorsement of Hightex's skills and reputation within the global construction industry. Given Hightex's involvement in the roof structures in Johannesburg and Berlin that hosted the 2010 and 2006 World Cup finals, this will represent a fantastic engineering and installation FIFA hat trick."
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/Henrik Persson - Corporate Finance | Tel: +44 (0) 20 7600 1658 |
Simon Starr - broking | www.finncapitalmarkets.com |
Media enquiries
Hudson Sandler | |
Charlie Jack | Tel: +44 (0) 20 7796 4133 |
www.hudsonsandler.com |
Notes to Editors
Hightex Group is a leading systems engineering company, which designs, fabricates and installslarge 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