ITE Group PLC
30 March 2000
ITE Group Plc
Acquisition in Slovakia
ITE Group Plc, ('ITE'), the international exhibitions
specialist, is pleased to announce the further expansion of its
Central European operations through a strategic acquisition.
On 27 March 2000 ITE entered into agreements to acquire 50% of
the rights to the exhibition 'Coneco' from Incheba a.s.,
Bratislava, Slovakia ('Incheba') and a further shareholding in
Incheba. The total consideration is Sk356.25 million (£5.16
million)payable in cash. The show will generate a turnover of Sk123 million
(£1.78 million) and a net profit of Sk95 million (£1.38
million) in 2000.
Coneco is the largest building and construction exhibition in
Slovakia. The exhibition is in its 21st year. This year's
edition, which opened on 28 March 2000, was over 26,000 sq.ms.
net in size with over 1,000 exhibitors from 14 European
Coneco fits well with ITE existing portfolio of building &
construction trade fairs in Almaty, Astana, Baku, Cairo,
Istanbul, Moscow, Nizhny Novgorod, St. Petersburg, Kiev, Samara
and Warsaw. Each of these is the leading event for its
respective region with Russia Building Week being the largest
exhibition in the CIS with a total of 850 exhibiting firms
covering 22,000 m2 of exhibition ground, representing over 30
Lawrie Lewis, Chairman of ITE, said:
'We are delighted to have acquired an interest in Slovakia's
premier event which will complement our other building and
construction exhibitions. This is our second joint venture
with Incheba and we will be continuing to expand and strengthen
our activities with Incheba both in Bratislava and in Prague'.
ITE Group Plc is one of the leading international exhibition
and conference organisers in Russia, CIS, Central and Eastern
Europe and the Transcaucasus, organising over 325 international
trade events in 25 countries each year.
For further information, please contact:
ITE Group Plc
Lawrie Lewis - Chairman 020 7596 5000
Odette Jonkers - Press Office 020 7596 5253
Richard Oldworth/Isabel Petre 020 7466 5000