ITE strengthens building portfolio with 60% acquisition of leading Turkish events
ITE’s Turkish subsidiary, EUF, announces the acquisition of 60% of YEM Fuarcilik (YEMF), organisers of Turkeybuild events in Istanbul, Ankara and Izmir. The remaining 40% of the business will continue to be held by Yapi–Endüstri Merkezi a.s (‘Yapi’), the leading provider of data and information services to the building materials and construction industries in Turkey.
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The principal Turkeybuild event, held in Istanbul, celebrated its 34th edition in April/May 2011 and covered more than 35,000m² net. It also attracted an attendance of over 110,000. The Ankara and Izmir Turkeybuild events are held annually in September and October respectively.
The acquisition is an ideal fit with ITE’s core sectors and territories. The building and interiors portfolio is the largest in the ITE Group and includes Russia’s largest trade event, MosBuild. The company also organises a number of events in Turkey, including Ankomak (construction machinery), IMOB (furniture), EMITT (travel), GIDA (food) and TUROGE (oil and gas).
Commenting on the acquisition, ITE’s Chief Executive Officer, Russell Taylor, said. "The addition of Turkeybuild events in Istanbul, Ankara and Izmir to ITE’s Turkish business is consistent with our strategy of building market leading positions in core markets and sectors. ITE has a strong portfolio of building and interiors exhibitions and an established base of supportive international exhibitors. YEMF’s events are already market leaders in Turkey but will benefit from access to ITE’s international customer base and its market leading building events in Russia and the CIS"