Frankfurt, Germany (ots/PROTEXT) - Fraport AG FrankfurtAirport Services Worldwide, Germany's leading airport manager,and ECE, Europe's leading shopping center specialist, have formeda new joint-venture company aimed at further developing theattractiveness of shopping, gastronomy and services offered atFrankfurt Airport (FRA). Based in Frankfurt am Main, Germany, thenew Airport Retail Solutions GmbH (ars) joint venture will alsooffer its services to optimize the so-called non-aviationrevenues of other airports. Founded at the beginning of August, Airport Retail SolutionsGmbH is headed by managing directors Frank Rappl (age 35) ofFraport AG and Ralph Middecke (age 40) of ECE. The joint venturehas already developed a master plan for FRA, which includes twoprojects scheduled for completion by the end of 2003. As aninitial step, two new retail areas costing a total of about DM50million will be constructed at Terminals 1 and 2. Thus,additional space will then be available for the airport's popular"Frankfurt Duty Free" and "Travel Value" shops. Owned and managed by Fraport AG, Frankfurt Airport is thesecond largest airport in Europe with almost 50 millionpassengers in 2000; it ranks seventh in the world (ACI figures).To strengthen its competitive position further, Fraport AG willbe expanding FRA's retailing space 60 percent by 2007. AsEurope's largest air cargo hub and the most important airportpartner of Lufthansa and its Star Alliance, Frankfurt Airport ispursuing a consistent globalization strategy. For over 35 years, ECE has been developing, completing,leasing and managing large commercial real estate projects. With61 shopping centers under its management, ECE is Europe's marketleader. These 61 shopping centers feature about 5,100 stores,offering 1.5 million square meters of total sales space andgenerating an turnover of DM14,000 million annually. ECE is planning or constructing another 13 shopping centers.The company has gained extensive expertise in retailing andservices for high-frequency real estate complexes as a result ofits comprehensive modernization of central railway stations --which include major shopping centers -- in Cologne, Hanover andLeipzig, Germany. Bernd L. Struck, Chairman of the Supervisory Board of AirportRetail Solutions GmbH and General Manager of Fraport AG, stressedthe importance of creating ARS: "This joint venture between twomarket leaders will sustain and support our goal of furtherdeveloping non-aviation revenues." ots Original Text Service:Fraport AG Internet: www.presseportal.de For more information,please contact: Fraport AG Frankfurt Airport Services WorldwideAttn: Robert A. Payne - Manager International Press 60547Frankfurt am Main, Germany Tel.: +49 69 690 -78547 (with voicemailbox) Fax: +49 69 690 -60548 E-Mail: r.payne@fraport.deInternet: www.fraport.de (click on "Press Lounge")
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