REC Signs Agreement With Messe Wien

Staff -- JCK Online, 5/1/2001 2:00:00 AM

Reed Exhibition Companies (REC) has signed an agreement with the Vienna City exhibition organization (Messe Wien) to acquire its portfolio of 22 exhibitions and to secure a long-term lease of its exhibition facilities. This agreement is subject to approval by the Austrian Antitrust court (the Kartellgericht).

The transaction complements REC's Reed Messe Salzburg business and brings the total number of Austrian events organized by REC to more than 50. Key events acquired in the purchase include Bauen & Wohnen (building and home interiors), Aquatherm (building technologies), IFABO (IT), Intertool (industrial manufacturing) and Viet+Messetechnik (electronics/automation).

From its new base in Vienna, REC will offer its customers and other organizers access to eastern Austria and the capital itself as well as the opportunity to serve the developing central and eastern European markets.

Messe Wien and the City of Vienna have begun a rebuilding program, which will see the complete renovation of the exhibition halls by December 2003. They will provide more than 60,000 square meters of 21st-century-standard facilities.

The agreement with Messe Wien marks a further step in REC's strategy of strengthening its position as the leading independent exhibition organizer in the German-speaking countries. It follows REC's joint venture agreement with Messe Berlin and the acquisition of Miller Freeman Europe, both of which were announced earlier this year. Completion of the Messe Wien transaction will add a base in Austria's capital city to REC's operations in Berlin, Dusseldorf, Salzburg, and Zurich. REC has been active in Austria since 1992 through its operating division, Reed Messe Salzburg.