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CORPORATE NEWSwww.exhibition-world.net Issue 8 | 20117INDIAUBM ASIA ACQUIRES STAKE IN FURNITURE SHOW ORGANISERUBM Asia has acquired a 70 per cent stake in Index Fairs, India's largest interiors and furniture trade shows from Index Furniture Private Limited. The deal covers three annual trade shows held in Mumbai, Bengaluru and Hyderabad. The fi nancial details of the deal were not disclosed, however the combined fairs generated revenue of approximately US$1.5m in 2010. Gross assets as at 31 March 2011 stood at $310,564.UBM said the acquisition is expected to exceed UBM's cost of capital criterion in its fi rst full year of ownership. UBM Asia president and CEO Jim Essink said the majority stake gives the organiser a leading position in the growing Indian exhibition market."This provides a signifi cant addition to UBM's product portfolio in India," he said. "We see many opportunities to build mutually benefi cial links between the Index Fairs and UBM's other furniture trade shows elsewhere in the world. "We also see opportunities to launch new shows in other Indian regions," added Essink.UBM Asia acquired Asian organiser AMB Exhibitions and Events in May, gaining access to several exhibitions across Malaysia, Vietnam and the Philippines.Elsewhere, UBM has partnered with Pro-Activ Publications to launch the Global Security Summit at the Olympia Exhibition and Conference Centre in London.EUROPEThe European Major Exhibition Centres Association (EMECA) will cooperate with the European Union's Enterprise Europe Network (EEN) to support small and medium enterprises (SMEs) and promote exhibitions as a marketing medium. Individual members of both associations have already cooperated on projects. EMECA's membership of EEN aims to set the stage for greater levels of cooperation between the two bodies."The services and activities of EEN represent real added value for companies at exhibitions, so it is a logical step for EMECA to enter into an offi cial partnership with the network and systematically interlink the activities," said Messe Frankfurt CEO and EMECA vice-president Wolfgang Marzin, pictured.EMECA believes the cooperation with EEN is a further development in the association's EMECA PARTNERS WITH EU ENTERPRISE NETWORKpackage of measures for promoting the quality of European exhibitions."The extensive services of EEN give SMEs the chance of setting themselves up better internationally," said Messe Frankfurt public affairs director Barbara Weizsäcker. "This strengthens their innovative power and promotes their competitiveness."BRAZILMESSE NUREMBERG SPLITS FROM PLANETA ORGANICOGermany's Messe Nuremberg and local outfi t Planeta Organico, organisers of Brazilian organic and natural product exhibitions BioFach America Latina and ExpoSustentat, have parted ways.A spokesman for Messe Nuremberg said the split clears the way for both companies to concentrate on core business activities.In 2009 Messe Nuremberg acquired Brazilian exhibition organiser Nielsen Business Media Brasil, which became the Brazilian subsidiary of Messe Nuremberg; Messe Nuremberg Brasil. Today this organises seven events in São Paulo in the pharmaceutical, cosmetics, analysis, glass technology, kitchen and bathroom, and pet and veterinary sectors.USAEXPO INDUSTRY GROWTH SURPASSES US ECONOMYGrowth of the overall North American exhibition industry outperformed the American economy in the fi rst half of 2011, according to the Centre for Exhibition Industry Research (CEIR).Semi annual data released by the organisation shows the overall exhibition industry gained 2.4 per cent during the fi rst half of 2011, while the US GDP only increased by 1.9 per cent."During the fi rst half of 2010, the exhibition industry lagged behind the macro economy. After two consecutive years of decline, the total CEIR Index dropped, tumbling 4.4 per cent from a year ago compared to a year-on-year increase of 2.7 per cent in real GDP," said CEIR.580 The number of EEN partner organisations. The last country to gain representation was Moldova in October