27 Jul 2010 07:00
Press Release 27 July 2010
Mountfield Group plc
("Mountfield" or the "Company")
Awarded preferred bidder status for UK winter sports resort SnOasis
Mountfield Group Plc (AIM:MOGP), the AIM listed construction group announces that it has signed an agreement with Onslow Property Group ("Onslow"), the owners and developers of SnOasis, under which Onslow has appointed Mountfield as its preferred building contractor for a number of construction contracts.
SnOasis is a 350 acre, £300m 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 programme.
Mountfield, through its principal construction subsidiary Mountfield Building Group Limited ("MBG"), 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.
Godfrey Spanner, the Managing Director of Onslow, said:
"We are delighted to be working with Mountfield. We chose them as our preferred partner for construction contracts because of their excellent reputation for the quality and timely delivery of the construction projects they undertake."
Graham Read, the Chief Executive of Mountfield, said:
"This is a hugely exciting project for us. We have developed a reputation for being able to complete complex contracts on time and are proud to be associated with such an exciting and important development. We look forward to working with Onslow on SnOasis over the next 30 months."
For further information:
www.snoasis.co.uk
| Mountfield Group plc Graham Read, Chief Executive Officer Peter Jay, Executive Chairman www.mountfieldgroupplc.com
| Tel: +44 (0) 20 7398 7718 |
| Arbuthnot Securities Limited Tom Griffiths Ed Gay
| Tel: +44 (0) 20 7012 2000 |
| Media enquiries: Hudson Sandler Nathan Field nfield@hudsonsandler.com www.hudsonsandler.com
| Tel: +44 (0) 20 7796 4133 |