News

November 1st, 2007

Hightex wins €7 million contract to provide roof for 2010 FIFA Football World Cup stadium

Hightex is pleased to announce that it has signed a contract to provide the membrane roof as part of the upgrading of the First National Bank (“FNB”) Stadium in Johannesburg, South Africa.

The stadium, originally built in 1987, is the main home of the South African Football Association and it is expected to host the opening match as well as several first and second round matches, one quarter-final and the final match of the 2010 FIFA Football World Cup.

In preparation for the tournament, the City of Johannesburg has decided to upgrade the Stadium, and to increase its capacity from the current 78,000 seats to 104,000 seats.

The architects, Boogertman Urban Edge & Partners and HOK, have designed an eye-catching new roof inspired by traditional African pottery. The structural engineering will be executed by Schlaich, Bergermann and Partners. The design concept includes a double layered membrane roof.

Hightex, with its South African subsidiary Hightex Structures (Pty) Ltd, has been selected to execute the detailed engineering, fabrication and installation of the membrane structure, providing a total area of over 50,000 square metres and using a state of the art technical solution with Fluorpolymer coated glass fabric membrane.

The selected Fluorpolymer coated glass fabric membrane material is extremely durable and allows light transmission to create a visually and acoustically comfortable environment. It has a proven reliability track record over more than 30 years, even under severe environmental conditions.

Completion is scheduled for the beginning of 2009.

The total contract volume for Hightex is around EUR 7 million. The Directors of Hightex expect that approximately EUR 1 million of this revenue will arise in 2007, about EUR 5 million in 2008 and the balance in 2009.

Hightex is also actively pursuing infrastructure and other major projects in South Africa and other African countries. The Directors believe that the FNB Stadium in Johannesburg will serve as a catalyst for further projects in the region, not only for its innovative membrane technology but also for the Hightex Group’s advanced solar systems business.

Charles DesForges, Chairman, stated that “Hightex Group is both honoured and delighted to have been selected for such an iconic project and shares this pleasure with the host country, the first African nation chosen to host such a significant international sporting event.”

End

For further information:

Hightex
Charles DesForges, Chairman +44 (0) 7799 626 238

Hightex
Klaus Michael Koch, Chief Executive Officer +49 172 895 1400

Landsbanki Securities
Sindre Ottesen, +44 (0) 207 426 9000