12th May 2014 08:36
LONDON (Alliance News) - UBM PLC said Monday that it had acquired construction tradeshow Expo CIHAC from Mexican construction industry trade association Centro Impulsor de la Construcción y Habitación A.C.
The event marketing and communication services company also has signed an agreement with the trade association for CIHAC to provide long-term support for the tradeshow.
The trade show is held annually in October and was first launched in 1989. The event had 30,000 attendees and generated GBP4 million in revenue in 2013.
The company expects returns from the acquisition to exceed its cost of capital in its first full year.
"We look forward to welcoming the Expo CIHAC team to UBM, and to continuing our close, positive co-operation with the CIHAC association," said Managing Director of UBM Mexico Jamie Salazar in a statement.
No financial details of the acquisition or service agreement were disclosed.
Shares in UBM were trading up 0.4% at 667.50 pence Monday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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