ASIA - Global Sources has confirmed it is set to acquire a 70 per cent interest in the Shenzhen International Machinery Manufacturing Industry Exhibition (SIMM) and its related shows.
The ownership also includes a 56 per cent interest in the Shenzhen International Cutlery & Tools Exhibition and the Shenzhen International Metal Processing Industry Exhibition.
Global Sources executive chairman Merle A Hinrich said the ownership of interest in SIMM will strengthen the machinery industry’s presence in the fast-growing market of China as one of the strategic pillars of its national economy.
“With SIMM's dominant presence in the machinery industry, combined with Global Sources' globally established media platform, the partnership enables both parties to take advantage of this exciting opportunity,” said Hinrich.
Last year, global media auditor BPA Worldwide opened a branch in Shenzhen, to also capitalise on the Chinese market.
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