12th Feb 2016 08:59
LONDON (Alliance News) - Paragon Entertainment Ltd on Friday said it has entered into a joint representation agreement with Latvian-based designer of museums, attractions and heritage-based projects H2E.
The attractions design, production and fit-out business said it will represent H2E in the UK while H2E will represent Paragon in Latvia, the Baltic States, the Commonwealth of Independent States and Scandinavia.
The agreement will allow Paragon increased access to regional businesses, local trades and materials and trading licences for projects, Paragon said, while H2E will benefit from Paragon's sales, marketing and presence in the UK and Western Europe.
Paragon said it aims to increase its representation base around the world so as to attract and find new projects in new regions where it is not currently active.
"I am delighted to announce this deal which follows a period of significant interest in this growing and exciting region. As most projects require local understanding, representation on the ground is an important strategic step to drive sales and growth in new areas of the world," Chief Executive Mark Pyrah said in a statement.
"We chose to work with H2E due to the quality of their work, their in-depth knowledge of the region and strong existing client base. We look forward to creating joint and synergistic opportunities through this partnership," he added.
Shares in Paragon were trading up 13% at 1.52 pence on Friday morning.
By Karolina Kaminska; [email protected] @KarolinaAllNews
Copyright 2016 Alliance News Limited. All Rights Reserved.
Related Shares:
PEL.L