Growing Mivan Internationally

Ivan McCabreyChief Executive

Mivan

Mivan Today

• Leading international construction company• Has operated in 40 countries• Offices in Europe & Middle East• Over 650 employees worldwide• Turnover exceeds £75 million• Celebrated 30 years in business in 2005• Opened London office in 2007

Mivan – some notable firsts• Largest general contractor at Euro Disney• Refurbished the QE2 and world’s leading liners• Re-roofed Jerusalem's the Dome of the Rock• Queen’s Award for Exporting in 1996 & 1997• Built 2 zones at the Millennium Dome

– Recently completed a major theming contract at the re-invention of the Dome – The O2

• Fitted out the interior of the Scottish Parliament• Worked on the New Wembley Stadium• Helped to complete the new Ascot Racecourse• British Construction Firm of the Year - 2003 &

2004• Best UK Fit-out Contractor - 2006

EuroDisney - Paris

QE2

Millennium Dome

Scottish Parliament

Mivan – Company Profile• Type of Business• Core activities

– Interiors & Theming– Property Development

• Retail & Residential– General Contracting

• Mivan remains a Northern Ireland company that operates internationally– Supported by local skills in a 11,000m2 factory

Mivan – the beginning

• Founded 1975• First contract was concrete and

shuttering at Kilroot Power Station• Based in Crumlin, Mivan grew as a

general contractor in Northern Ireland

• 1979 opened office in Dublin• 1980 started operations in Baghdad

Mivan - just another builder

• Strategic review of activities in 1983– House building margins slim & considerable

competition– Public works competitive at low margins– NI security environment not conducive to

growth– Heavy investment in plant to support

activities– Industry was labour and capital intensive– Mivan was just another builder

Mivan- strategy outcomes

• Mivan lacked unique products & services

• Marketing could differentiate Mivan from competitors

• Interiors paid better than exteriors• Overseas offered large project

opportunities

…then along came Interiors

• Started Interiors with one manager and one joiner in 6,000 sq ft. in Crumlin

• Started shopfitting and refurbishing Sealink ferries

• Reduced other NI construction activity and increased investment in design and innovation

It ain’t half hot, Mum

• Won large formwork contracts in Middle East

• Major public housing formwork contract in Iraq

• Completed Iraq contract almost 12 months ahead of schedule

• In 1985, bought the formwork system that is the basis of Mivan Formwork

Its that Mouse again…

• Won contract as the largest general contractor on Euro Disney in 1991

• Merged construction and interiors skills to develop specialist theming expertise

• Targeted other theme operators and won US Disney, Warner Brothers and Islands of Adventure

Warner Bros.

Universal Studios, Florida

Mission: SPACE

Visioneering• By mid 1990’s significant investment in

R&D, design & technology offered opportunities for special projects– Cruise liner interiors– Retail store interior outfitting– Theming of parks and retail zones– Full-size Titanic replica for Japan

• Mivan invented ‘visioneering’ if you have a vision, we can engineer it

Overseas visioneering

• Working in the Middle East gave Mivan an advantage. As local economies improved, Mivan was well placed to capture prestige formwork-based contracts in Malaysia, Thailand and India

• In 1996, Mivan won a Queen’s Award for Export, winning more than £100m of new business in 1 year

More strategy• As international engineering became more

competitive, Mivan’s overseas operations were less unique

• The latest review reduced dependence on competitive, falling-margin overseas work to concentrate on more niche, value-added formwork,interiors and cruise liners

• Latest activities include retail and residential developments in Romania

• Work has started on the Newtown Residence Development (over 630 apartments) & the Liberty Center Shopping Mall in Bucharest

Liberty Center

NewTown Residence

Bleach Green – Northern Ireland

• New development consisting of 63 properties

• Combination of detached, semi-detached, townhouse and apartment units

• Total development cost circa £9 million

• Completed December 2006

Ardnavalley, Northern Ireland

• New residential development

• Located in Comber, County Down

• Consists of circa 70 properties, comprised of detached, semi-detached and apartment units

• Phase 1 scheduled for completion December 2008

• Phases 2 & 3 to complete 2010

• Total development cost circa £30 million

Cruise liners• Cruise contracts depend on a perfect reputation

for completing contracts on time and on budget• Mivan is now amongst the world’s leading

cruise outfitters• Clients include P&O Cruises, Royal Caribbean,

Saga Shipping• Recently completed a £0.5m contract at

Sembawang Shipyards in Singapore for client Princess Cruises

• Currently pricing a £1.5m project to work at the Grand Bahama Shipyard

Interiors and theming

• Interiors, like cruise liners demand speed, quality and financial control. Mivan works for:– Hotels such as the new Radisson Edwardian

Hotel in London– Prestige buildings, like Wembley, the Scottish

Parliament and the new Civil Justice Centre in Manchester

– Apartments, including a 205 apartment block in Kensington, London, described as “the world’s most exclusive (and expensive) address.”

O2 Waterfront, London

Client: Sir Robert McAlpine

Designer: RTKL; Gensler

Contract Period: July 2006 – April 2007

Contract Value: £8,500,000

Work Packages: Supply and install around 12,000 sq. m of art-deco style facades for the hospitality areas around the new arena in Greenwich.

Mivan Interiors – Museums & Visitor Attractions

Mivan Interiors - HospitalityWembley National Stadium Client: Multiplex Constructions (UK) Ltd

Architect/Designer: World Stadium Team (Foster/ HOK Sport)

Contract Period: 13 months

Contract Value: £5.5m

Work Packages: Design, manufacture, supply of bar/restaurant counters, servery counters, kiosks, receptions, information desks, pay stations, waiter stations, player booths, press stations etc

Mivan InteriorsRadisson Hotel, New Providence

Wharf

Client: Ballymore Properties

Ltd Architect/Designer: Aukett Fitzroy

Robinson Contract Period: 12 Months

Contract Value: £7.9m

Work Packages: Interior fit-out of the 169 no. bedrooms & bathrooms, corridors, front of house and leisure suite

Mivan currently negotiating the fit-out of 2 pavilions

Four linked residential Pavilions separating Hyde Park and Knightsbridge, London.

Mivan working to Candy & Candy; Laing O’Rourke & world class architects - Hamiltons; Rogers, Stirk & Harbour

Selling for in excess of £4k per sq ft with recorded sales of individual apartments reaching £84m

Residential Developments

Why is Mivan still around?

• Unwavering company-wide commitment to quality, innovation and process improvement

• The best salespeople are the workers, backed by training and personal development

• Total focus on customers – ‘making the customer say, Wow!’

• A belief that marketing underpins everything• Constantly reinventing ourselves

Questions?

Growing Mivan InternationallyIvan McCabrey

Chief Executive Mivan