15th Dec 2009 07:00
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Press Release |
15 December 2009 |
Hightex Group plc
("Hightex" or "the Group")
Hightex wins €13.4 million contract for BC Place Stadium retractable roof, Vancouver, Canada
Hightex Group plc (AIM:HTIG), a leading designer and installer of large membrane roofs and façades worldwide, is delighted to announce that it has been awarded a contract to supply the entire retractable roof and the fixed façade for the BC Place Stadium in Vancouver, British Columbia, Canada. When completed, this roof will be the largest cable-supported retractable roof in the world. The projected area of the retractable portion of the roof is approximately 6,700m², requiring a total of approximately 13,400m² of membrane material.
The total value of the contract for Hightex is approximately 20.9 million Canadian dollars (approximately €13.4 million). Hightex expects that approximately €10 million of these revenues will fall in 2010 with the balance coming in 2011.
The contract will involve the fabrication and installation of the complete retractable portion of the membrane roof system in Tenara membrane, a woven, high translucency PTFE fabric, as well as the façade system to be fabricated from a transparent membrane with a light-controlling frit pattern.
The design work will commence immediately, with completion planned to take place in mid 2011.
When aggregated with the contracts won since August 2009 (for the roof systems for the Warsaw and Kiev stadia), Hightex has now secured contracted revenues amounting to approximately €45.3 million, which will mostly be generated in 2010 and 2011. Additionally, Hightex is negotiating an additional smaller contract to fabricate the membrane materials to be used for the outer fixed part of the BC Place Stadium roof. Shareholders will be informed in due course if this additional contract with the associated revenues, is secured.
The new roof is part of the revitalization of the BC Place Stadium, which remains the home of the BC Lions. Once completed, the stadium will also host the first season of the Vancouver Whitecaps as a Major League Soccer Franchise in 2011. The existing pneumatic dome is to be dismantled and replaced with a partially fixed, partially retractable fabric roof as well as a transparent membrane facade.
The new roof substructure consists of a radial cable net and outer steel columns. The fabric roof is divided up into 36 fixed outer panels and 36 inner retractable segments. The outer fixed roof, to be the subject of a separate contract, has an area of about 34,000m². The inner roof will consist of a double layer Tenara membrane with an inflated inter-space to form "cushion" elements.
The cushions will be pre-stressed using hydraulic tensioning units and inflation via fan units. The retractable roof will be connected to the 36 radial cables by specially designed sliding and driving carriages. The deflated cushion will be stored at the centre of the roof in a membrane garage. To close the roof, the driving carriages will pull the membrane outwards radially towards the perimeter. The retractable roof is made of a highly translucent fabric which will allow the fabric to be folded without damage.
The new façade comprises some 6,000m² of transparent membrane panels using ETFE. The facade panels are pre-stressed using metal arches and are attached directly to the primary steel structure.
Hightex's total scope on the project includes the fabrication of the outer roof, fabrication and installation of the retractable roof including drive technology and the fabrication and installation of the ETFE facade.
The project was designed by Stantec Architects Ltd, with structural engineering being provided by Geiger Engineers, New York, USA and Schlaich Bergermann & Partners, Stuttgart, Germany, supported by specialist consultants Tensys, RWDI, Genivar, Acoustical Design Group and CW Kling & Associates.
Charles DesForges, Executive Chairman, stated that "Hightex Group is delighted to have been awarded this prestigious project. Following the retractable roof contracts at Wimbledon (completed in May 2009) and at Warsaw (won in August 2009), this contract win reinforces Hightex's reputation as a world leader in the provision of specialist retractable roof systems."
"The BC Place stadium contract also increases the visibility of Hightex's contracted revenues (including work on the roofs of the Warsaw and Kiev stadia roofs) to approximately €45.3 million, which will be generated mainly in 2010 and 2011. Hightex continues to work on a number of other sizeable potential contracts for 2011 to 2013.
Coupled with the placing announced on 4 December 2009, which raised approximately £2.5 million (after expenses) for the Group, these three most recent contract wins have provided a substantial platform for further growth in 2010 and beyond."
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For further information:
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Hightex Group plc |
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Charles DesForges, Chairman |
Tel: +44 (0) 20 7603 1515 |
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Charles Sebag-Montefiore, Non-Executive Director |
www.hightexworld.com |
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FinnCap |
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Geoff Nash, Rhydian Bankes, Corporate Finance |
Tel: +44 (0) 20 7600 1658 |
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www.finncapitalmarkets.com |
Media enquiries
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Abchurch Communications Limited |
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Henry Harrison-Topham / Charlie Jack |
Tel: +44 (0) 20 7398 7706 |
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www.abchurch-group.com |
Notes to Editors
Hightex Group is a specialist provider of large area architectural membranes for roofing and façade structures. 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, and safer as well as being flexible to create complex shapes and it can span larger areas. 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 Wimbledon Centre Court retractable roof, the Burj al Arab Hotel in Dubai, the roof of the Suvarnabhumi International Airport in Bangkok and the grandstand roof at Ascot Race Course.
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 Rimsting, 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
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