Expansion Plans and New Technology Underway
Austin, TX (May 25, 2011) - Hellas Construction a privately held company has sold a minority stake to Royal TenCate; a multi-national company listed on NYSE Euronext (AMX). The strategic alliance is for Hellas to continue providing superior synthetic turf to the North American market backed by the best R&D and sports yarn manufacturing. Hellas has been very successful with a Calculated Annual Growth Rate of 45% 2004-2010 and excellent financial performance. “Selling shares to TenCate will strengthen Hellas’ ability to continue with our past growth rate and our long-term strategic plans,” says Reed J. Seaton, President and CEO of Hellas Construction. When thinking about potential partners Hellas was not interested in private equity due to their generally shortterm investment strategies, along with Hellas’ aversion to bank debt. “TenCate is more than 300 years old and when you think about a good stable partner they were our choice,” Seaton says.
TenCate Grass is the largest manufacturer of sports yarns, turf backings and other geo synthetic materials used in Hellas’ daily operations. TenCate has made a significant investment in the sports playing field markets world wide, “which makes them a perfect fit for us,” says Seaton.
Hellas Construction and its management are excited about the future and plan to bring new technology to the market with TenCate’s assistance.Hellas Construction, Inc. (Hellas) Headquartered in Austin, Texas, Hellas is one of the largest sports contractors in the United States. The company specializes in the general construction of sports facilities and synthetic surfaces. Its business model includes turf manufacturing, base construction, field, track & tennis installation and maintenance. Hellas controls all business processes to take its products straight to the end-user including marketing, sales, quality control and project management. For more information visit www.hellasconstruction.com.
Royal Ten Cate (TenCate) is a multinational company that combines textile technology with chemical processes and material technology in the development and production of functional materials with distinctive characteristics. TenCate products are sold throughout the world.
Systems and materials from TenCate come under four areas of applications: safety and protection; space and aerospace; infrastructure and the environment; sport and recreation. TenCate occupies leading positions in protective fabrics, composites for space and aerospace, antiballistics, geosynthetics and synthetic turf. TenCate is listed on NYSE Euronext (AMX).
TenCate Grass develops and produces synthetic turf components and designs systems for top-flight sport, recreation and landscape applications. Together with its partners, TenCate Grass strives to achieve a system approach. This gives users confidence in playing characteristics and lifespan. TenCate Grass has production facilities in Europe, the Middle East and North America.