Fehér group. Fehér ASSET MANAGEMENT CO. LTD

Fehér group • Fehér ASSET MANAGEMENT CO. LTD. • fehérép ltd. • Fehér Ablak ltd. • Fehér Alu ltd.

D

ear Reader!

Let me introduce the entities of Fehér Group to you, in a few sentences about their past from their foundation until today. Our first and founding company was Fehér Ablak Window Manufacturing, Service and Trading Ltd., which was founded on 13 March 1995 for the manufacturing of plastic doors and windows. In the past 13 years, this company has shown unbroken development and growth. Our revenues in the first year amounted to HUF 40 million, and by today HUF 2.5–3 billion is realized annually. Growing market demands have necessitated our adaptation to today’s modern architectural technologies, and therefore we have started to manufacture aluminum doors and windows that seem to enjoy increasing popularity. For these operations, in 1998 we founded Fehér Alu Metal Structure Manufacturing and Trading Ltd. As a result of our reliable and persistent work, this company has also earned reputation across the country among other aluminum structure manufacturers and our customers. The sales revenues of the company in 2008 are expected to reach HUF 1.5 billion. We foresee our turnover intensively growing further, and by 2010 it may arrive at HUF 2 billion sales. Concurrently with the start-up of Fehér Alu Ltd., we had the intention to become involved in all the operations of construction industry, and therefore founded Fehérép Construction and Trading Ltd., whose sales revenues in 2008 is expected to exceed HUF 3 billion. The given volumes realized by the above-mentioned production companies (an annual total of cc. HUF 7 billion) have called for the establishment of a company that would coordinate and manage the production companies, and thus we founded Fehér Asset Management Private Company Limited by Shares. I would like to thank our customers for their honourable trust so far, and hope that the future will continue to witness our successful cooperation with all existing and prospective partners. Székesfehérvár, 01 October 2008



Jenõ Sipos



2

Chairman

Fehér Asset Management Co. Ltd.

Fehér Asset Management Co. Ltd.

We strive for creating value, to make our products, constructed structures preserve their quality and our reputation for long. The leading entity of Fehér Group was founded in 2002, and since then it has been operated as a private company limited by shares. Currently, its two key responsibilities are the management of Fehér Group, the coordination of its activities, as well as the identification of opportunities that promote the development of the Group. The scope of the Company’s activities covers real-estate property trading and asset management. It provides professional assistance and background support to the Group entities in their successful and efficient participation in tenders. The objective that the Company has set for itself is to become such a well-known economic actor across the country as in Fejér County and Székesfehérvár. The Group considers charity actions as a very important responsibility (Incubator Foundation, midwife club, Szent György Hospital of Fejér County). Moreover, we sponsor cultural events (Fehérvár Music Days, other events in the city). A clear sign of our love of sports is our sponsoring provided to the first-league women handball team of Fehérép Alcoa FKC, the American football team of Fehérvár Enthroners, as well as the county-league soccer team of Isztiméri SK.

Net sales revenue in billion HUF. 9

Fehér Alu Ltd. Kft. Fehér Kft. Fehérép Ltd. Fehér Ablak Ltd. Kft. Fehér

8 7 6 5 4 3 2 1 0

2002

2003

2004

2005

2006

2007

Fehér Asset Management Co. Ltd.

2008

3

Fehérép ltd.

Attila Horváth

Tamás Sipos

director

director

Fehérép Ltd. was founded in 1999 as a partnership of private persons. Upon its foundation, the Company was involved in property investment and classic building construction activities. In 2000, it started to operate as a general contractor of construction works, which soon became dominant. Beside the construction of private homes, as well as the design and construction of block of apartments, we regularly and successfully participate in public procurement and other tender applications. We have earned the appreciation of our clients with the quality implementation of public institutions, that is mayor’s offices and labour centers, rural development centers, nursery schools, kindergartens, schools, institutions of higher education. As an active contractor of enterprises involved in Hungarian tourism and catering, we have constructed a five-star hotel, luxury apartments, a wine house. The developers, investors of large retail chains and shopping centers – such as TESCO – are also recurrent clients of the Company. Since 2001, we have also been involved in façade construction and follow-up façade insulation that today – due to the prefab reconstruction program – account for a significant proportion of our activities. At the present, we work with 46 employees with 15 of them Summary of our façade heat insulation works performed belonging to the engineering management team. The managers within the framework of the prefab program. of our Company require continuous and high-standard work from Felület Area each employee. In order to meet the strict quality requirements (ezer m) (thousand m2) 180 of our clients in a confirmable manner, we have introduced a quality assurance and environmental management system (ISO 160 9001:2000 and 14001:2005 Standard) with the accreditation of an independent quality certifier. 140 2

120 100 80 60 40 20

4

Fehérép Ltd.

0 2004

2005

2006

2007

2008

SOME GENERAL CONTRACTING REFERENCE WORKS OF FEHÉRÉP LTD.:

Luxury apartments, swimming pool –Tihany

Luxury apartments –Tihany Residential buildings, blocks of apartments, luxury apartments: - Cserkesz Street, District X, Budapest, construction of a block of 63 apartments - Felsôkopaszhegyi Street, Tihany, construction of 48 apartments and a swimming pool - Hóvirág Street, Telki, family home - Törökbálint, construction of 32 apartments in Tükörhegyi Residential Park - Üröm, Táborhegyi Residential Park, construction of 25 apartments - Herceghalom, construction of a municipal building complex of 10 flats

Cserkesz Street, District X, Budapest,

Family home – Székesfehérvár

Fehérép Ltd.

5

Prefab rehabilitation: - Székesfehérvár (~ 300,000 sq m), Budapest, Tatabánya, Tata, Komárom, Mór, Veszprém, Szombathely, Ajka, Mosonmagyaróvár, Szeged, Szentes, Százhalombatta

Prefab rehabilitation – Székesfehérvár

Schools: - Expansion of Bozsik József Primary School of Komárom - Expansion of the College of Geodesy in Székesfehérvár - German Nationality High School of Pilisvörösvár – reconstruction - Reconstruction of Gorsium Primary School of Tác - Modernization of Harrer Pál Primary School of Óbuda - Modernization of Nagy László Primary School of Óbuda - Jászfényszaru, Sárga School, construction works of the Garden of Arts and House of Small Crafts

Kindergartan for 100 children – Biatorbágy

School – Jászfényszaru Social public institutions: - Pásztori, construction of the Home of Adults with Disabilities - Tordas, construction of the Home of Mentally Disabled

Kindergartens: - Construction of a new kindergarten building and street front fence in Páty, for 61 children in 3 groups - Construction of a kindergarten building in Biatorbágy, for 100 children - Reconstruction and expansion of the central kindergarten building in Biatorbágy

Kindergarten – Páty

Stores: - Construction of Veszprém Tesco - Construction of Sümeg

Sümeg

6

Fehérép Ltd.

Other facilities: - Tihany Echo Residence Hotel, Felsôkopaszhegyi Street (six-star hotel) - Tököl, Mortuary - Tök, Wine Warehouse - Gúttamási, construction Fehér Ablak’ manufacturing plant - Herceghalom, construction of the Mayor’s Office - reconstruction of the Labour Center of Paks - reconstruction of the Labour Center of Sárbogárd - implementation of unobstacled access to the Police Station of Paks - Jászfényszaru, reconstruction of the Community Center

Mayor’s Office – Herceghalom

Wine Warehouse – Tök

Mortuary – Tököl

Community Center – Jászfényszaru Community Center – Jászfényszaru

Fehérép Ltd.

7

Fehér Ablak ltd.

Miklós Kalinics commercial director

Péter Sipos director

Ferenc Pásztori technician director

Fehér Ablak Ltd. was founded by four private persons on 13 March 1995 with its registered seat in Székesfehérvár. The founders have remained active contributors to the Company’s operations since then. Manufacturing activities were commenced in a rented property in Guttamási. Similarly, a rented office in Székesfehérvár served as the center of sales. Back in 1995, the operations were started with a headcount of 5 employees, and as a result of continuous growth by today the number of employees has reached up to 115. The growth of the company has also allowed the acquisition of the business site and office. 2004 saw the erection of our 2,500 sq m manufacturing hall where our products are manufactured with new, modern equipment, at high standards and with larger capacities, in quality complying with the European requirements. In order to meet broad-scaling market demands, our Fehér Ablak plastic outdoor doors and windows are manufactured from three types of profiles, with the use of 3- or 5-chamber profile systems. Towards better and more efficient contacts with the customers, our Company has set up a brand dealership network across the country, and thus today the number of our active partners exceeds 50. Within just fifteen years, Fehér Ablak Ltd. has grown into one of Hungary’s largest companies involved in the manufacturing of outdoor façade doors and windows. Currently, our Company professionally manufactures and installs 600 window units each day on the average. Our continuous development and commitment to quality have necessitated that our products should comply with the reliability requirements guaranteed by the EN ISO 9001:2000 certificate. Fehér Ablak Ltd. has a strong focus on continuous development. We are founding members in the MATA (Development Section of Hungarian Door and Window Manufacturers) organization. Today, the name of Fehér Ablak Ltd. is well known in construction industry, which is proven by the fact that large investment and construction enterprises also belong to our clients. In recent years, we have succeeded in the public procurement procedures announced for the reconstruction of prefabs within the framework of the energy rationalization program, and now a major part of our revenues originates from this segment of the market.

8

Fehér Ablak Ltd.

Manufacturing Hall of Fehér Ablak Ltd. – Gúttamási,

SOME REFERENCE WORKS OF Fehér Ablak LTD.

for the manufacturing and installation of façade doors and windows (client/year of construction):

Csillaghegyi residential park – Budapest RESIDENTIAL PARKS, BLOCKS OF APARTMENTS - DUNA-PEST RESIDENCES, a building of 330 apartments, Budapest (ARCADOM Co. Ltd., 2004) - Százados Street HM housing Estate –170 apartments, Százados Street Housing Estate, District VIII, Budapest (Hérosz Co. Ltd. 2002– 2003) - 188 apartments in Szentmihályi Street, District XV, Budapest (EURITMA Ltd. 2001–2002) - Szép Ilona residential park, a block of 140 apartments, Budakeszi Street, District II, Budapest (STRABAG Ltd. 2002) - A block of 112 apartments (social and cost-based flats) Erkel F. Blvd., Százhalombatta (HÉROSZ Co. Ltd. 2002) - Hullám Holiday Resort, a house of 48 apartments – installation of façade doors and windows, Balatonöszöd (DILIGENCIA Ltd. 2002) - Kondorosi residential district, block of apartments (Kondorosi Bau Ltd. 2004) - Zalaegerszeg, Vizslapark Str. 25, Landorhegyi Str. 48–54. (EU-comfort Ltd. 2004)

Szép Ilona residential park – Budapest

Hullam Holiday Resort – Balatonõszöd

Fehér Ablak Ltd.

9

PREFAB REHABILITATION - Herceghalom, municipal flats for rent (Municipality of Herceghalom, 2003) - Székesfehérvár, Palotai Street 53–65. (FEHÉRÉP Ltd. 2005) - Székesfehérvár, Királysor 57–65. (Municipality of Székesfehérvár, City of County Rank, 2006) - Székesfehérvár, Jancsár Str. 29–49. (Municipality of Székesfehérvár, City of County Rank, 2005) - Székesfehérvár, Gáz Str. 9., Bld. a, b, c (Municipality of Székesfehérvár, City of County Rank, 2005) - Székesfehérvár, Köfém housing Estate 18–19–20. (Municipality of Székesfehérvár, City of County Rank, 2005) - Ajka, Tûzoltó Str. 1–7. (Municipality of Ajka, 2006)

Székesfehérvár Sziget Street, before prefab rehabilitation

Székesfehérvár Sziget Street, after prefab rehabilitation HOTELS, PLEASURE BATHS - Bük, Hotel Répce Gold (Polaris Co. Ltd. 2004) - Gunaras Medicinal Baths (Hérosz Zrt. 2004) - Tihany Echo Residence Hotel, Felsôkopaszhegyi Street (Fehérép Ltd. 2005)

Székesfehérvár, Budai Street

Block of apartments – Bükfürdõ

10

Fehér Ablak Ltd.

Gizella House – Budapest

STORES, INDUSTRIAL FACILITIES, OFFICE BUILDINGS - Szentendre, City Gate Mall Phase 1–2 (Modulor Construction Ltd. 2005) - Miskolc, Bosch Hall (MHH Co. Ltd. 2004) - Gyöngyös, Stanley 5M Hall (MHH Co. Ltd. 2004) - Jászfényszaru, Samsung (MHH Co. Ltd. 2004) - Hatvan, Bosch Hall (MHH Co. Ltd. 2004) - Alba Regia Center, Székesfehérvár (KDT VV Ltd., 2006) - WESTEL Office Building Budapest (Csôszer Co. Ltd. 2002)

Budapest, Szabolcs Street

Siófok, Beszédes walkway

PUBLIC INSTITUTIONS - National Institute of Medical Rehabilitation, Budakeszi (Domestic Construction Enterprise Co. Ltd. 2002) - District Court of Csepel, Budapest (Kész Ltd. 2002) - Széchenyi István High School, Budapest (Mayor’s Office, Municipality of Budapest, 2003) - Municipal institutions, Siófok, South Balaton Cultural Center, Szépvölgyi Street Student Hostel, Beszédes József Primary School (Municipality of Siófok, 2003) - 8 public institutions in District XIX of Budapest, Bóbita Kindergarten, Zöld Ágacska Kindergarten, Eszter lánc Nursery School, Vass Lajos School, Százszorszép Kindergarten, Ady Endre Primary School, Bokréta Nursery School, Katica Kindergarten (Asset Management Division, Municipality of District XIX of Budapest 2004) - District XI of Budapest Palánták Kindergarten; Pajkos Kindergarten (GAMESZ, 2005) - German Nationality High School and Student Hostel (Municipality of District X of Budapest 2005) - Secondary School Student Hostel of Veszprém, Veszprém, Stadion Street 22. (Municipality of Veszprém, City of County Rank, 2004) - Tatabánya, Szent Borbála Hospital (FEHÉRÉP Ltd. 2005)

Budapest, Kapás Street

Duna-Pest residences – Budapest

Kõérberek residential park – Budapest

Fehér Ablak Ltd.

11

Fehér alu ltd.

Tamás Herczog director

András Cseh technician director

Founded in 1998, Fehér Alu Ltd. is an entity of Fehér Group. The core activities of the Company include the design, manufacturing and onsite installation of aluminum doors and windows (windows, doors, automated doors, curtain walls, glass roofs, winter gardens). Since its foundation, our Company has been dynamically growing, in 2007 our net sales exceeded HUF 1.1 billion, and thus Fehér Alu Ltd. is one of the dominant enterprises of the sector. The increasing volume of our orders necessitated the construction of a new manufacturing hall and office building. Reflecting the demands of the 21st century and erected in a 6,000 sq m building plot, the 1,500 sq m new manufacturing hall accommodates our manufacturing activities in the Alba Industrial Zone, Székesfehérvár. Our aluminum doors and windows are mostly manufactured from Schüco (Germany) and Gastaldello (Italy) profile systems, yet we also undertake to manufacture structures from other profiles as demanded. Aluminum doors and windows are capable of bearing large loads and stresses, they are extremely durable, and therefore they perfectly function as the building elements of office buildings, public institutions, stores, car dealerships and industrial halls. Our products also include the alu wood doors and windows of the Gastaldello system that – in addition to their exclusive appearance – combine the beneficial properties of the heavy-duty aluminum and naturally looking wooden doors and windows. For static or architectural reasons, curtain wall designs are often demanded. In terms of appearance, curtain walls, glass roofs and winter gardens can have exposed frame, semi-structural or structural designs. Aluminum profiles are surface-finished by means of powder spraying to the desired RAL colours. In view of both function and aesthetics, doors and windows are glazed (with special heat-reflecting, soundinsulating and security glasses) and studded (with various clutches, handles, locks, door checks, automated elements, window opening motors).

12

Fehér Alu Ltd.

Fehér Alu construction hall – Székesfehérvár

SOME REFERENCE WORKS OF FEHÉR ALU LTD. (CLIENT/YEAR OF CONSTRUCTION):

Office building – Budapest, Aradi street

STORES - TESCO stores: 45 (in the period of 2000–2008), - LIDL stores: 18 (Kormorán Öko Ltd. and Debmut Co. Ltd., 2004-2008), - PENNY MARKET stores: 16 (N+N Ltd., etc., 2004–2007), - AUCHAN Stores and Gardening extensions: 7 (in the period of 2006–2007) - ELECTROWORLD stores: 3 (in the period of 2001–2004) - bauMax, Pécs (Strabag MML Ltd., 2007) - CBA Gyömrôi Center, Budapest (KÉSZ Ltd., 2006) - Family Center, Sopron (KÉSZ Ltd., 2007) - Interspar, Diósd (KÉSZ Ltd., 2007) - Nagy Building Material Wholesale Sore, Gyôr (MHH Co. Ltd., 2004) - Park Center, Esztergom (Strabag MML Ltd., 2008) - Vértes Center (plaza and bus station), Tatabánya (Betonút Co. Ltd., 2007)

K-Trading office and depot – Budapest Diósd BANKS - savings cooperatives in Komárom, Miskolc, Kazincbarcika, Oroszlány, Tatabánya (in the period of 2000–2007) - CIB Bank, Pápa (Fetév-Szer Ltd., 2005)

Vértes Center Tatabánya

Vértes Center Tatabánya – cupola FILLING STATIONS - TESCO: 19 (in the period of 2004–2007) - Other: 2 (in the period of 2001–2005)

Fehér Alu Ltd

13

OFFICE BUILDINGS - Alba Regia Center, Székesfehérvár (KDT VV Ltd., 2006) - Aradi Str. 65–67., Budapest (Strabag Construction Ltd., 2001) - Buda-Cash Broker House, Budapest (Eco System Ltd., 2006) - General Electric MS, Budaörs (KÉSZ Ltd., 2005) - Leier Office Building, Gyôr (Leier Holding Ltd., 2008)

•

Nagy Building Material Wholesale Sore

Buda-Cash Broker House – Budapest INDUSTRIAL FACILITIES - Alpine, Biatorbágy (MHH Rt, Takenaka Gmbh., 1999–2008) - Biodiesel, Komárom (Strabag MML Ltd., 2007) - Denso, Székesfehérvár (MHH Rt, Strabag Ltd., Takenaka Gmbh., 2003–2007) - Grundfos, Székesfehérvár (Baustar Ltd., 2007) - Gyermely Pastry Factory (WF Ltd., 2004) - Hankook, Dunaújváros (Market Co. Ltd., 2007) - Jabil Circuit, Tiszaújváros, Szombathely and Kwidzyn (PL) - (KÉSZ Ltd., 2003–2007) - Zenon, Oroszlány (Ver-Bau Ltd., 2006)

Gadácsi Autóház, Keszthely

Alba Regia Centrum – Székesfehérvár

14

Fehér Alu Ltd

Tesco hypermarket – Keszthely

HOTELS, PLEASURE BATHS - Pleasure Baths, Dunaújváros (Mahíd 2000 Zrt., 2007–2008) - Hotel Silver Resort, Balatonfüred (Swietelsky Ltd., 2006) - Hotel Azúr, Siófok (Délviép Co. Ltd., 2004) - Oxygen Wellness Center, Budapest (Duna-Épszer Co. Ltd., 2008) - Park Inn Hotel, Sárvár (Proform Rt., 2006)

Hotel Silver Resort indoor swimmin pool – Balatonfüred

RESIDENTIAL PARKS, BLOCK OF APARTMENTS – Székesfehérvár, Budapest, Dunakeszi, Érd, Veszprém, Pécs (in the period of 2002–2006)

Hotel Silver Resort outdoor swimmin pool – Balatonfüred CAR AND MOTORBIKE DEALERSHIPS - Chevrolet: Csorna, Tatabánya, Székesfehérvár, Keszthely (in the period of 2004–2006) - Suzuki: Székesfehérvár, Kisvárda, Budapest, Bicske (in the period of 1999–2006) - Toyota: Székesfehérvár, Baja (in the period of 1999–2005) - Volvo and Ford Ivanics, Székesfehérvár, Budapest (Ivanics Ltd., 2004-2008)

Vértes Center, Tatabánya

Volvo Ivanics – Székesfehérvár

PUBLIC INSTITUTIONS - Hospitals: Székesfehérvár, Pécs, Budapest-Honvéd (KÉSZ Ltd., Hungarian Construction Co. Ltd., 2001– 2007) - Schools, colleges (GEO, Kodolányi): Székesfehérvár, Érd, Göd, Jászfényszaru (in the period of 2002–2006) - Kindergarten, Dunaharaszti (KÉSZ Ltd., 2004) - MTA SZTAKI, Budapest (MTA SZTAKI, 1999–2005) - Mormon Congregation Houses, Budapest, Athens (in the period of 2003–2008) - Environmental Inspectorate of South Transdanubia: Pécs (Debmut Co. Ltd., 2005) - Water Police, Budapest (KDT VV Ltd., 2007)

Suzuki – Bicske

Fehér Alu Ltd

15

Central office and showroom – Székesfehérvár

Fehér group FEHÉR ASSET MANAGEMENT CO. LTD. H-8000 Székesfehérvár, Budai u. 61-63. Tel.: +36-22/506-510 • Fax: +36-22/506-517 www.fehervagyonkezelo.hu [email protected]

Fehér Ablak ltd

H-8000 Székesfehérvár, Budai u. 61-63. Tel.: +36-22/506-510 • Fax: +36-22/506-517 H-1016 Budapest, Hegyalja u. 23. Tel.: +36-1/224-7280 • Fax: +36-1/224-7282 www.feherablak.hu [email protected]

Fehérép ltd.

H-8000 Székesfehérvár, Sziget u. 13. Tel.: +36-22/503-505 • Fax: +36-22/340-332 www.feherep.hu [email protected]

Fehér Alu ltd.

H- 8000 Székesfehérvár, Alba Ipari Zóna Fagyal utca 1. Tel.: +3622/503-120 • Fax: +36-22/503-121 www.feheralu.hu [email protected]