HIGHTEX GROUP PLC

HIGHTEX GROUP PLC

Previous company name

Name change date

Company Overview
Hightex Group Plc is a publicly quoted company active as a holding company whose subsidiaries are engaged in the design, production and installation of polymer membrane tensile structures and the exploitation of intellectual property application in the area of solar energy and related fields. The group main activities are carried out through two companies namely HTI Group and SolarNext. HTI Group is involved in the design, production and installation of polymer membrane structure for the use of architects and structural engineers. SolarNext specializes on the applications in the generation of energy, solar cooling, prevention of heat getting into homes, offices and other structures, and water purification.
Hightex Group is a subsidiary of RAB Capital Plc, a London-based investment management company that specializes in the management of hedge funds.
The company is also active in the United States of America through the operations of one subsidiary company.
Hightex Group was incorporated in June of 2006. The company has its registered business address located in London, the capital city of the United Kingdom.
Business Summary
The Company is the holding company for a group of companies engaged in :
the design, production and installation of polymer membrane tensile structures for a wide variety of users, but chiefly roofs and faзades for airport termini, railway stations, shopping malls, sporting stadia and arenas and other buildings
the development and sale of solar cooling systems and the related controllers, the commercial exploitation of which has been deferred during the turnaround of the membrane business.
Description and history
The Company is the holding company for a group of companies engaged in :
the design, production and installation of polymer membrane tensile structures for a wide variety of users, but chiefly roofs and faзades for airport termini, railway stations, shopping malls, sporting stadia and arenas and other buildings
the development and sale of solar cooling systems and the related controllers, the commercial exploitation of which has been deferred during the turnaround of the membrane business.

HISTORY :

The Company was incorporated on 28 June 2006 and listed to the Alternative Investment Market of London Stock Exchange on 6 September 2006.

1899
The engineer Carl Koch began his career as an entrepreneur in East Germany. His Koco Company manufactured cars until 1927, following which he stepped into his relative’s business producing bitumen based waterproofing sealants under the name Koit.

1949
Herbert Koch, son of Carl Koch re-started the Koit business in West Germany.

1952
The chemist Herbert Koch pioneered the development of polymer membranes for waterproofing to replace the traditional bitumen based materials.

1959
Polymer membrane waterproofing by the Koch company became state-of-the-art for industrial and residential buildings with flat roofs.

1967
The tent-shaped German Pavilion for the EXPO in Montreal, designed by Frei Otto became the first milestone in the new history of lightweight membrane structures.

1972
The Koch company started a division for architectural membranes (the nucleus of today s Hightex Group) and was involved in most of the temporary and permanent structures for the Munich Olympics.

1974
Herbert Koch, together with Dr. Herbert Fitz, introduced the fluorpolymer materials, especially transparent ETFE foils, to the European market. The oil crisis led to the first solar application prototypes.

1978
Klaus-Michael Koch, today CEO of Hightex Group plc, joined his father s business

1983
First substantial export contract for the roof of the Saudi Air Defense Forces Sport Center.

1989
The architectural division of the Koch Company became Koch Hightex GmbH. Klaus-Michael Koch as Managing Director focused on the international expansion.

1996
The Koch family decided to split the Koch Company: Klaus-Michael Koch bought out the architectural membrane business (Koch Hightex GmbH) and his brother Hans-Jьrgen Koch continued with the waterproofing business (Koch Dachplan GmbH) and the geomembrane business (Koch Geoplan GmbH).

1997
After a disastrous fire near Mecca, the Saudi Ministry of Public Works and Housing tendered the largest turnkey membrane project ever in the world: 40,000 fireproof tents using over 5 million square metres of PTFE/glass membrane material for 2.5 million pilgrims. Koch Hightex won the 600 million Euro contract and formed a joint venture with the support of the Saudi Binladen Group, probably the largest and most successful construction company in Saudi Arabia.

1998
Only eight months after signing the Saudi contract, the first phase was handed over complete and in time for the pilgrimage. Before the second phase started and immediately after the bombing of the US embassies in Kenya and Tanzania in August, the Saudi Ministry withdrew the contract management from the Joint Venture, pulled the bonds and stopped huge outstanding payments. This led overnight to insolvency. After years of court actions in Saudi Arabia by the German financial institutions against the Ministry of Public Works and Housing, the Saudi courts issued a title in favour of the German financial institutions and confirmed thereby that this staged action against the joint venture was incorrect.

2000
Like his father 50 years ago, Klaus-Michael Koch restarted Hightex from scratch. Many of the most capable members from the previous team joined again.

2001
Within 9 months of signing a contract for the supply and installation of the roof over the new Pusan Stadium in South Korea, the Hightex team handed over the membrane roof. South Korea hosted the World Cup and the Asian Games in 2002.

2002
The Abuja stadium roof in Nigeria for the All African Games 2003, the first large PTFE/glass structure on this continent, was successfully completed.

2003
A 155 metre-long membrane sculpture sponsored by Unilever and designed by Anish Kapoor was made and installed by Company in the Tate Modern, London.

2004
A double-layer roof and acoustic ceiling, using 55,000 sq.m. of membrane material, was supplied and installed in the newly built Olympic Stadium in Berlin, well on time for the Final of the World Cup 2006.

2005
Hightex International AG, Switzerland, was founded to create a strong business platform for further international expansion of the Company business.

2005
The membrane roof with its revolutionary three layer system for a new energy and environmental concept for the largest airport in Asia, the Suvarnabhumi Airport in Bangkok, Thailand. The airport will start full operations on September 28th, 2006.

2006
Hightex was awarded the contract to build a special membrane system for the new retractable roof over the Wimbledon Centre Court.

2006
At Clarke Quay in Singapore, a 10,000 square metre covered shopping street with a transparent pneumatic roof system was handed over. It is the first of its kind in Asia. Only the healthy spectrum of UV light can pass through this transparent material.

2006
The new membrane covered grand stand at the Royal Ascot racecourse was inaugurated by Her Majesty Queen Elizabeth II. The Olympic equestrian competitions in 2012 will take place at Ascot.

2006
On June 28th, Company was formed in London, to act as the new holding company for all activities of the Hightex companies in different countries, as well as their sister company, SolarNext AG based in Germany.

2006
In March, Hightex International AG raised EUR2.5m to finance further expansion through investors introduced by Ludgate Investments Limited.

2006
On September 6th, Hightex Group plc acquired Hightex International AG, and raised in aggregate EUR5.2m (before expenses) and its issued share capital was admitted to the Alternative Investment Market (“AIM”) of the London Stock Exchange

Business Line
A holding company whose subsidiaries are engaged in the deign, production and installation of polymer membrane tensile structures and the exploitation of intellectual property application in the area of solar energy and related fields
Subsidiary
HIGHTEX GMBH
Advisor
MAZARS LLP
IPO date
9/6/2006
US SIC Code
1799
Company Address
MASTERS HOUSE
107, HAMMERSMITH ROAD
City province or state postal code
W14 0QH, LONDON
Phone: +44 207 603 1515
Fax:
Country address: UNITED KINGDOM
Website url: www.hightexworld.com