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Hightower to target affordable housing sector
16:00 19 May 2004
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Hightower Construction, a shell company with no turnover, has been
formed and listed on the Alternative Investment Market (AIM).
Haresh Kanabar, chairman and instigator of the development, plans to create a specialist outsourcing business to provide services such as ground works and prefabrication to the housebuilding industry.
Kanabar has support from Aidan Wright, director, who has 30 years experience in the building industry.
"There is likely to be a big rise in affordable housing and that's a development that Hightower will target," a spokesman said. He also thought major private housebuilders such as Persimmon could tap into Hightower's services in the future.
Floating on the junior section of the Stock Exchange has created funding of £500,000. Once its shares are trading in June, Hightower will start buying existing companies with further cash.
A target turnover of £200m a year has not been ruled out.
Haresh Kanabar, chairman and instigator of the development, plans to create a specialist outsourcing business to provide services such as ground works and prefabrication to the housebuilding industry.
Kanabar has support from Aidan Wright, director, who has 30 years experience in the building industry.
"There is likely to be a big rise in affordable housing and that's a development that Hightower will target," a spokesman said. He also thought major private housebuilders such as Persimmon could tap into Hightower's services in the future.
Floating on the junior section of the Stock Exchange has created funding of £500,000. Once its shares are trading in June, Hightower will start buying existing companies with further cash.
A target turnover of £200m a year has not been ruled out.
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