PremiSys Technologies PLC
15 March 2001
PREMISYS TECHNOLOGIES ANNOUNCES NEW SHAREHOLDERS FOR
ITS ASITE CONSTRUCTION PORTAL
PremiSys Technologies plc (AIM: PSS) 'PremiSys', today announces that a number
of major construction industry players are to become shareholders in Asite,
the online construction portal and subsidiary of Premisys.
These new shareholders include:
Legal and General
Morley Fund Management
Asite has been developed over the past 12 months by Stanhope plc, Rotch
Property Group and PremiSys, with the objective of it becoming the leading
pan-European business-to-business construction portal. Today's announcement
follows that made on 24 October last year, when the site was launched with the
participation of a number of high profile technology partners, including
Microsoft and Commerce One.
Asite's prospective new partners are responsible for a significant portion of
all commercial property development in the UK today. Their aggregate spend on
new build construction each year amounts to more than £5 billion.
Walter Goldsmith, Chairman of PremiSys, commenting on the announcement said,
'We are delighted to announce that so many prestigious industry players are
becoming shareholders in Asite. They will provide Asite with the opportunity
to become the leading portal in the construction industry. It is a major step
forward for the Group.' He continued, 'Asite will operate a profitable,
subscription-based revenue model'.
For further information contact:
Walter Goldsmith, Chairman Tel: 020 7968 0570
Gavin Anderson & Company
Neil Garnett / Rebecca Penney Tel: 020 7457 2345
Notes to Editors
The Construction Market
The Construction Industry in Europe accounts for approximately 10% of European
GDP (£540 billion) and employs over eight million people. Five European
countries, Germany, France, Italy, Spain and the UK account for 73% of this
market, with the UK alone accounting for at least £62 billion.
PremiSys Technologies plc
PremiSys Technologies plc, formerly Premisys Group plc, is an AIM listed
property services and investment group. Over the last 12 months the company
has been undergoing significant change in strategic direction, with the
objective of building a core of technology-focused businesses. As a part of
that strategy, PremiSys has been developing its Asite subsidiary. The
objective is for this site to become the leading pan-European business-to-
business construction portal.
The Asite construction portal has been developed by PremiSys Technologies,
with the active participation of Stanhope plc, Rotch Property Group and Aurora
Investments (the private investment vehicle for partners in KKR) and with
technology partners, Microsoft, Commerce One, Dynamis Solutions, Intel,
Compaq, Attenda, Glue and Aspect Internet. The portal was launched in October
It is intended that this business-to-business site will become the central
information hub for the entire construction community, from architects to
material manufacturers and from trade contractors to facilities managers.
Using a unique toolkit, Asite plans to unlock value by co-ordinating
information about multiple projects, analysing and allocating that information
to one of seven marketplaces where buyers and sellers can be optimally
matched. It will also enable companies to introduce greater operational
efficiencies and to standardise systems.