Reed Exhibitions Sells Canadian Manufacturing and Industrial Portfolio
to the Society of Manufacturing Engineers (SME) and Vance Publishing
Last transaction as part of Reed N. America Strategic Business Alignment
(Norwalk, CT Dec. 5, 2006) - Reed Elsevier, parent of Reed Exhibitions, has announced the sale of its Canadian manufacturing and industrial portfolio as the final transaction of its strategic alignment of its exhibition business operations in North America. The Society of Manufacturing Engineers (SME) has purchased: Plant Maintenance & Design Engineering; Western Manufacturing Technology Show; Canadian Manufacturing Technology Show; Advanced Manufacturing Expo; Montreal Manufacturing Technology; Southwest Ontario Industrial Show; and Canadian Manufacturing Week. Vance Publishing has purchased Woodworking Machinery & Supply Expo and SIBO.
With this transaction, Reed has completed the strategic alignment of its business in N. America and has ensured its commitment to the four specific areas of growth: hearth & home; security; luxury & lifestyle; and life science/healthcare. Reed retains its Canadian retail events in Jewelry, Publishing, Golf, and Infosecurity, and this year, it had added the National Hardware Show Canada.
Earlier in 2006, Reed Exhibitions sold its US manufacturing and industrial portfolio as a first step in strategically aligning its business with the intention of divesting its Canadian portfolio as negotiations with separate parties were completed.
"We are pleased to turn over the Canadian manufacturing and industrial events to the SME and Vance Publishing, as we continue to invest in and grow other areas of our Canadian business. Our long-time customers and events in manufacturing will find a great fit with these buyers," said Chet Burchett, President of Reed Exhibitions, Americas. "We have always been proud of our manufacturing and industrial events and have worked hard to increase value for all of our customers."
"With this acquisition, SME is undertaking a major investment to support Canadian manufacturing companies and their employees. SME is excited and ready to take on more active and supportive role within the Canadian manufacturing community, and to assist the many fine organizations whose mission it is to enhance the competitiveness of Canadian manufacturing companies and their people," said Mark Tomlinson executive director and general manager of SME.
The WMS and SIBO exhibitions will become part of Vance Publishing's Interiors Media Network. "We've identified events as a target area for growth throughout our company," said Vance Chairman William C. Vance. "These acquisitions are an integral part of that program and a clear indication of Vance's aggressive expansion plans."
The Jordan, Edmiston Group, Inc. (JEGI), the New York-based investment banking firm that specializes in media and information, represented Reed Elsevier in these transactions and acted as its exclusive financial advisor.
About Reed Exhibitions
Reed Exhibitions, which organizes more than 460 trade shows annually worldwide, is a member of Reed Elsevier, a world-leading provider of information-driven services and solutions. Reed Exhibitions, and its sister companies, offer integrated market access programs covering exhibitions, trade publications, and direct marketing. Reed Exhibitions has North American offices in Norwalk, CT, Waltham, MA, Miami and Palm Beach Gardens, FL, Las Vegas, NV and Toronto, ONT (Canada) and sales and operations offices worldwide. (NYSE: RUK/ENL)
About SME
The Society of Manufacturing Engineers is the world's leading professional society supporting manufacturing education. Through its member programs, publications, expositions and professional development resources, SME promotes an increased awareness of manufacturing engineering and helps keep manufacturing professionals up to date on leading trends and technologies. Headquartered in Dearborn, Michigan, SME influences more than half a million manufacturing practitioners and executives annually. The Society, which celebrates its 75th anniversary in 2007, has members in more than 70 countries and is supported by a network of hundreds of technical communities and chapters worldwide, including nine chapters in Canada. To learn more about SME, please visit our web site at www.sme.org.
About Vance Publishing
Vance Publishing Corp. is headquartered in Lincolnshire, IL, with offices in Lenexa, KS and St. Louis, MO. Since its founding in 1937, Vance Publihsing has been a recognized leader in business information, communications and exhibitions. The company serves select business-to-business markets with more than 20 magazines, several exhibitions, and a host of newsletters, Web offerings, and data products, as well as custom media products.
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Beth Blake
PR Director
Reed Exhibitions
383 Main Avenue
Norwalk, CT 06851
203.840.5451 v bblake@reedexpo.com
203.840.9451 v fax