Hope recognized by World Economic Forum
Hope Construction Materials become UK’s first construction firm to join Global Growth Companies community
HOPE Construction Materials, Britain’s newest and biggest independent suppliers of concrete, cement, aggregates and asphalt, have become the UK’s first construction firm to join the World Economic Forum’s Global Growth Companies (GGC) community.
The company has been recognized by the Forum after demonstrating strong growth potential during its first six months of trading. Hope Construction Materials are also one of just two European construction firms to show they meet membership criteria.
Formed in 2007, the GGC has accepted more than 370 companies worldwide, seeking out businesses it believes have the potential to not only become leaders in their field, but also to drive greater economic and social change.
Criteria for inclusion include double-digit annual growth rates, a substantial turnover of between $100 million and $5 billion, executive industry leadership and the ability to demonstrate significant growth potential.
It is believed Hope Construction Materials’ unique contribution to what has historically been a traditional British construction industry is one of the key drivers behind their inclusion. The firm, which recently celebrated the production and delivery of its first 1,000,000 cubic metres of concrete, is currently developing a range of innovative concretes for the construction industry.
The industry has traditionally been seen as a barometer of national economic health and the decision to acquire the business, in the industry’s largest deal for more than a decade, has been viewed as a clear statement of intent to drive the sector forward following signs of a return to economic prosperity.
‘When choosing entrants to our community of Global Growth Companies, we assess companies on their business model, annual revenues and growth rates, executive leadership and market position,’ said World Economic Forum managing director David Aikman.
‘Hope Construction Materials are a dynamic group with clear potential to shape the future across the many markets in which they operate and so are a perfect fit for our GGC community.’
Hope’s chairman, Amit Bhatia, said he was delighted that the company’s fresh approach and aspirational goals had been recognized by a global organization like the World Economic Forum.
He said: ‘It’s still early days for the business but we have ambitious and innovative growth plans and are pleased they have been acknowledged by such a highly regarded body.
‘This industry is typically seen as traditional and staid, so we aim to buck the trend in the way we work and the products and services we offer.’
He concluded: ‘By being accepted into the GGC community we stand alongside some of the world’s most dynamic firms, which is exactly where we feel Hope Construction Materials should be.’
