ITE Acquires Trade Link in Malaysia
International exhibition organiser, ITE Group plc, announced that the group had acquired 75% of the Malaysian company, Trade Link ITE Sdn Bhd, on behalf of ITE’s wholly-owned subsidiary, International Trade and Exhibitions (JV) Ltd. The remaining 25% stake is held by Albert Lai, CEO of Trade Link. ITE agreed to pay £4 million (US$6.33 million) for its stake in the exhibition organiser.
Trade Link organises three annual events at Putra World Trade Centre (PWTC) in Kuala Lumpur: Metaltech, Automex and Weldtech. The company also runs what it claims to be South-East Asia’s largest woodworking event, ASEAN Woodtech.
According to ITE, Trade Link’s revenues in FY2013 are expected to reach £2 million (US$3.2 million).
ITE’s Chief Executive Russell Taylor commented, “This acquisition is a strategic move for ITE into the South East Asian exhibition market. Trade Link operates some of South East Asia’s key events in our strongest sectors which are expected to realise good growth in the future.”