27 May 2014 07:00
Date: | 27 May 2014 |
On behalf of: | Paragon Entertainment Limited ("Paragon", the "Company" or the "Group") |
Embargoed until 0700hrs | |
Paragon Entertainment Limited
Agreement with Incorp Group
Paragon Entertainment Limited (AIM: PEL), the attractions design, production, fit-out and operations business, is pleased to announce that it has entered into an agreement with Incorp Group, the Dubai based design and project management company, for representation in the GCC (Gulf Cooperation Council) region.
The agreement will allow Paragon increased access to regional businesses, local trades and materials and trading licenses for projects that require licenses. Incorp will benefit from Paragon's sales, marketing and design and build expertise, which will provide Incorp with a new skillset and USP for its existing corporate client list and markets. In addition, the agreement will enable Incorp to access new markets and projects within the GCC.
Within the region, Paragon is currently working on the King Abdullah Petroleum Studies and Research Center in Riyadh and Al Jaba Oil and Gas visitor centre in Kuwait. Past projects include the Horse House Museum in Dubai, Khalifa Park in Abu Dhabi and theming works at Atlantis on the Palm and Ski Dubai.
Commenting on the deal, Mark Pyrah, CEO of Paragon Entertainment said:
"I am delighted to announce this deal, which follows a period of significant progress and interest in Paragon throughout the Middle East. As most projects in the region require representation on the ground, this agreement is an important strategic step to drive sales and growth. We chose to work with Incorp Group due to its in-depth knowledge of the region and we look forward to accelerating opportunities through this synergistic partnership."
Commenting on the deal, Sean Nicholson, Managing Director
Middle East of Incorp Group said:
"Paragon's success in the Middle-East is proven by the high quality projects it has been commissioned to work on. We look forward to working with the team at Paragon and are confident the partnership will boost growth for both parties in the GCC."
For further information:
Paragon Entertainment Limited Mark Pyrah / Richard Arden
Cenkos Securities plc Ivonne Cantu (Nomad) Alex Aylen / Julian Morse |
Via Redleaf Polhill
020 7397 8900
|
Redleaf Polhill Dwight Burden/Jenny Bahr/ Rachael Brown |
paragon@redleafpr.com 020 7382 4730 |
Notes to Editors:
Paragon Entertainment Limited (AIM:PEL) is an award winning provider of attraction services from initial design and production through to the direct operation and development of themed attractions.
It is the holding company for:
§ Paragon Creative Limited, a visitor attraction design, production and fit-out business;
§ Paragon Entertainment (Attractions) Limited, a visitor attraction and licensing company; and
§ The Visitor Attraction Company (TVAC), an attraction consultancy, feasibility and operations company.
The Group's projects have included:
§ The design and build of the new Olympic Museum for the IOC in Lausanne Switzerland;
§ The design and build of the Titanic exhibition, Belfast's new £97 million visitor attraction;
§ The build of the Wallace and Gromit ride at Blackpool Pleasure Beach;
§ Through licensing agreement with Hasbro, the design, build and operation of several Nerf attractions;
§ Acting as the lead thematic and interactive contractor for the Florya Aquarium in Istanbul.
The Group listed on AIM in 2011.
Further information can be found at: http://www.paragonent.com/