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ARMBRO WINS PRAGUE AIRPORT PROJECT TO BUILD FINANCE, MANAGE AND OWN PRIVATE TERMINAL

 ARMBRO WINS PRAGUE AIRPORT PROJECT TO BUILD
 FINANCE, MANAGE AND OWN PRIVATE TERMINAL
 BRAMPTON, Ontario, May 6 /PRNewswire/ - A Canadian-led consortium headed by Armbro Enterprises Inc. has won a high profile international competition to develop a major new terminal complex at Prague's Ruzyne International Airport in Czechoslovakia.
 The same Canadian group of companies that participated in Toronto's new Terminal 3, a privately owned and operated airport facility, will design, build, finance, manage, operate, and co-own the new $200 million (Canadian) Prague terminal in partnership with the government of the Czech Republic.
 In a joint venture with British Aerospace (BAe), Armbro formed the Prague Airport Development Corporation (PADC), which initially bid on the project in June, 1990. Armbro Enterprises is a Canadian company involved in real estate development, road building, heavy construction and related airport activities. BAe, with headquarters in London, is a leader in civil and military aviation.
 Besides Armbro Enterprises, the other members of the consortium are management consultants KPMG Peat Marwick Stevenson & Kellogg, architects Scott Associates Architects Inc., engineers Marshall Macklin Monaghan, and fiscal agents and strategists Murray & Company.
 Scott Associates will be the architects for the Prague project. Marshall Macklin Monaghan will support them on building engineering, and provide project management services. Peat Marwick Stevenson & Kellogg have prepared passenger forecasts and played an important role in the creation of the business plan. Murray & Company will structure a financing package for the project.
 Last year the Canadians learned they were shortlisted with the French team, led by Bouygues, a German team led by Hochtief, and a Yugoslavian team led by Union Engineering. Since then, the remaining bidders have been working with the Czech authorities on the financial and technical terms of the privatization deal.
 The Canadian proposal went beyond the terminal redevelopment bid originally issued by the Czech government. The Canadian innovations included plans for retail, hotel, office, air cargo and other facilities as part of the terminal complex.
 "This is a great day for the consortium team, and for the government of Canada, which supported our bid from the beginning," says Armbro director John Beck.
 "We went into the heart of one of the most competitive markets in the world and won a very important project."
 "This is a major victory, not just for the firms involved in the bid, but also for the many Canadian companies whose products and services will be required in the development of the new airport complex,'' said International Trade Minister Michael Wilson.
 The PADC bid was led by Michael Manley, president of PADC and a Director of Armbro.
 "This award puts Canada at the forefront of a growing worldwide trend toward airport privatization. The expanding economics of Eastern Europe will be presenting more opportunities in the privatization of large-scale infrastructure. Winning this project gives us a significant presence in these markets and an opportunity to show what Canadian talent can do," Manley said.
 The financial package for the project will likely include participation by several international banks including ABN-AMRO of The Netherlands, Canada's Export Development Corporation and the European Bank for Reconstruction and Development.
 -0- 5/6/92
 /CONTACT: Thomas E. Reid of Reid Management, 416-863-1280, or home, 416-842-1611, for Armbro/ CO: Armbro Enterprises; British Aerospace ST: Ontario IN: CST SU: CON


KD -- NY105 -- 7376 05/06/92 20:23 EDT
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Publication:PR Newswire
Date:May 6, 1992
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