DUSSELDORF -- A minority share in Igedo Internationale Modemesse Kronen GmbH & Co., which puts on the CPD, Igedo and First View fashion fairs here, has been acquired by another trade show producer and owner of the fairgrounds here,...
DUSSELDORF -- A minority share in Igedo Internationale Modemesse Kronen GmbH & Co., which puts on the CPD, Igedo and First View fashion fairs here, has been acquired by another trade show producer and owner of the fairgrounds here, Nowea.
Igedo also announced it is investing over $14 million (25 million marks) at current exchange rates in the building of a new service center and office tower on the fairgrounds, which is the site of the various Igedo shows.
The two fair organizations have a history of cooperation. The construction of the Dusseldorf Fashion House, a year-round showroom center and exhibition space during the Igedo fairs, was a 50-50 joint venture.
The main reason for the sale, Igedo chief and principal Manfred Kronen explained, is that "Nowea wanted to make sure that the Igedo shows would stay in Dusseldorf should something happen to me."
The parties declined to reveal the exact size of the share bought by Nowea.
Further commenting on the deal, Kronen said, "There is a great deal we can do together. This chance for Igedo to invest in the fairgrounds is a useful investment for both of us and, together, we will be very strong to conquer new international markets."
He also pointed out that the Igedo company, which is involved in many marketing, advertising and data base services beyond the scope of the Igedo fairs, can now extend its services to the various Nowea fairs, which include trade shows here for the boating, shoe and packaging industries.
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