Eurasia Rail acquisition strengthens ITE in Turkey
ITE has strengthened its position in Turkey with the signing of a binding agreement to acquire 100% of TFF (TF Fuarcilik ve Organizasyon Anonim Sirketi) in a deal brokered by Fair Relations GmbH.
The transaction includes the acquisition of Eurasia Rail, an annual exhibition serving the rolling stock and railway infrastructure industries in Turkey and the surrounding region. The 5th edition of this event will be held in March 2015 at the IFM (World Trade Center) in Istanbul. It is likely to sell more than 10,000 m² net and visitor attendance is expected to be around 20,000 over 3 days.
ITE's Chief Executive, Russell Taylor said. "This acquisition works for ITE on many levels. It boosts our portfolio of transport related events, it strengthens our Turkish operation and it helps the Group to diversify the geopolitical risk associated with its core markets". ITE's newly appointed Industry Director for Transport & Logistics, Laurent Noel said. "I ha ve been impressed with Eurasia Rail. It has quickly gained the respect and support of the industry and it is now the leading event of its type in the region."
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