Hope Construction Materials, the independent supplier of concrete, cement, aggregates and asphalt has become the UK’s first construction firm to join the World Economic Forum’s Global Growth Companies (GGC) community.
The company has been recognised by the Forum after demonstrating strong growth potential during its first six months of trading. Hope Construction Materials is also one of just two European construction firms to show it meets 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 $100m-$5bn, executive industry leadership and the ability to demonstrate significant growth potential.
It is believed Hope Construction Materials’ contribution to what has historically been a traditional British construction industry is one of the key drivers behind its 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 over 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 David Aikman, managing director of World Economic Forum. “Hope Construction Materials is a dynamic group with clear potential to shape the future across the many markets in which it operates and so is a perfect fit for our GGC community.”
Chairman Amit Bhatia said he was delighted that Hope’s fresh approach and aspirational goals had been recognised by a global organisation 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.”