Hightex Group - Re: HTIG Stream Log - Balfour Beatty wins £154m Olympic...

Balfour Beatty wins £154m Olympic stadium contract Londons Olympic stadium is to become the home of West Ham. Picture: Getty Londons Olympic stadium is to become the home of West Ham Construction group Balfour Beatty has won a £154 million deal to transform London’s Olympic stadium into the venue that will become the permanent home of English Premier League club West Ham United. The stadium will also be used to host five matches during next year’s Rugby World Cup, before West Ham relocates there from Upton Park in 2016. Balfour Beatty, which built the aquatics centre for the 2012 London games, said work at the site will begin early this year and yesterday’s deal includes a £41m contract to build a roof for the stadium, which will become the UK’s national site for athletics. West Ham won the 99-year lease for the Queen Elizabeth Olympic Park after fighting off rival bids from fellow top-flight club Tottenham Hotspur and League One outfit Leyton Orient. The club will contribute £15m towards the conversion costs, with £40m coming from Newham Council. The UK government has agreed to provide further funding of up to £25m if needed. Balfour Beatty chief executive Andrew McNaughton said: “During construction, our firm commitment to the use of local labour and the creation of apprenticeships will continue to benefit the local community and the wider industry. “Upon completion, the stadium will provide a first-class sporting and cultural facility for many generations to come.” At the peak of construction activity, up to 400 people will be employed at the site, and McNaughton said the firm was committed to providing apprenticeships amounting to 7 per cent of the total workforce. Analysts said the Olympic park revamp will provide a boost for Balfour Beatty after it suffered a 70 per cent slump in half-year profits following a combination of a weak construction sector, a lack of major infrastructure work and a challenging market in Australia, where the firm has a large presence. Underlying pre-tax profits for the year to 28 June tumbled to £45m, from £150m a year earlier, and the group subsequently sold its facilities management business to French utility GDF Suez for £190m to focus on infrastructure projects. As well as the aquatics centre, which Balfour Beatty is converting into a facility for local communities, the group completed a £150m package of roads and bridges for the London games. The £429m Queen Elizabeth venue played host to a number of notable British successes duringthe Olympics, including two gold medals for runner Mo Farah and victory for Jessica Ennis-Hill in the heptathlon. In July, the stadium’s operators – Newham Council and the London Legacy Development Corporation (LLDC) – agreed a deal that will see UK Athletics given full use of the arena every July for the next 50 years. LLDC chief executive Dennis Hone said yesterday that the 60,000-seat arena will represent a “truly remarkable legacy” in the east of London. He added: “We go into 2014 on track to deliver a world class venue that, when it fully opens in 2016, can be used year round to host a whole range of sporting, cultural and community events.” Taking a look: West Ham captain Kevin Nolan, Mark Noble, Joe Cole and Mohamed Diame (L-R) pose for the photographers at the Olympic Stadium Taking a look: West Ham captain Kevin Nolan, Mark Noble, Joe Cole and Mohamed Diame (L-R) pose for the photographers at the Olympic Stadium West Ham vice-chairman Karren Brady hopes all of the new innovations in the project will make for a smooth transition to The Hammers' new home when they eventually leave Upton Park. 'This marks a key milestone in the stunning, £200 million transformation of the Olympic Stadium - one that will culminate in an iconic new home for our club,' she said. 'My team and I fought exceptionally hard on behalf of our supporters to ensure these modifications, which we knew were of paramount importance to our supporters, took effect. Gloomy: Weather conditions delayed the removal of the first floodlight panels Gloomy: Weather conditions delayed the removal of the first floodlight panels The future: A CGI mock-up of West Ham playing at the Olympic Stadium The future: A CGI mock-up of West Ham playing at the Olympic Stadium All smiles: Joe Cole poses for photographers as he checks out West Ham's future home All smiles: Joe Cole poses for photographers as he checks out West Ham's future home Preparations are now under way to construct the new roof on the Olympic Stadium, which is set to be West Ham's home from the 2016/17 season. The first of 14 floodlight panels is to be removed later this week to allow the development, which is twice the size of that for the London 2012 Games, to press on in the spring. The cantilevered roof, which measures some 84 metres at its deepest point, will be the longest of its type in the world and will cover every seat at the 60,000 capacity venue, with the work scheduled to be completed by 2015 to host some Rugby World Cup matches. Hightex is one of only two companies operating internationally to design and install large area membrane roofs and façades using environmentally friendly materials and innovative coatings, which help reduce energy costs. "We are pleased to be investing in a leading green building company. Buildings represent more than 20% of global energy use and Hightex membranes can reduce that burden significantly. 'The roof is a truly phenomenal design that will enhance the iconic status of this sporting arena and help to lock in the world-famous atmosphere that our supporters create when we play at home. 'There will also be an innovative seating solution that will bring fans closer to the pitch, new hospitality areas and a bespoke ticket office and club store. 'It was vital for us that this stadium offers an incredible viewing experience for West Ham fans and I think that will become ever clearer as the conversion progresses. 'We are wholly committed to delivering a state-of-the-art home for West Ham by 2016 that will honour the Olympic legacy pledge. An agreement between the London Legacy Development Corporation (LLDC) and West Ham saw the Barclays Premier League club take on a 99-year lease, with the Olympic stadium to be transformed into a 60,000-seater venue in time for the 2016/17 season. However, a House of Lords report was published earlier this week which recommended West Ham and Leyton Orient work together with the LLDC, and even suggests the League One side be granted occasional use of the stadium, something for which they have long been pushing.