ITE Moves into China with Sinostar JV
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The ITE Group has successfully established a 50:50 Joint Venture with Hong Kong based Worldcoat Exhibitions Ltd. ITE’s investment results in the creation of a new organiser, ‘Sinostar ITE’ and the acquisition of two major trade events, ChinaCoat and SFChina (surface finishing).
ChinaCoat and SFChina serve the decorative, industrial coatings and finishing industries in China and the surrounding region. They are held concurrently in November each year and alternate between Shanghai and Guangzhou. The upcoming 2013 exhibition will be held in Shanghai, marking the 26th edition of this event. It is expected to be in the region of 35,000m2 net and be attended by over 30,000 professional visitors.
The owner of Worldcoat and the current CEO of Sinostar International, Mr Raymond Ho, will become CEO of Sinostar ITE.
Commenting on the acquisition, ITE’s Chief Executive Officer, Russell Taylor, said. "This is an important step as we begin building a business in China and it further increases our presence in the wider Asian region. This JV represents progress in achieving the Group’s aims to expand its territorial operations in markets with further potential for growth.
“ChinaCoat and SFChina are the leading coatings and finishings exhibitions in Asia. The addition of these sectors to ITE’s portfolio is also consistent with our strategy of building market leading positions in key growth sectors.”.
“We will leverage Sinostar ITE’s international exhibition expertise to continue to grow these exhibitions as well as developing a wider portfolio in this sector”.
Russell Taylor – Chief Executive Officer, ITE Group plc
For general press enquiries, please contact:
Mr Richard Wightman – Head of Marketing, ITE Group plc
+44 207 596 5087