ITE in Chinese partnership

 
Oliver Smith
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EXHIBITIONS group ITE has announced a new £33m venture in partnership with Hong Kong-based Worldcoat Exhibitions as the company pushes into China.

The new partnership, Sinostar ITE, acquired the rights for Worldcoat’s SF China exhibition, showcasing the paint and coatings industries.

The partnership is currently a 50/50 investment with Worldcoat as part of ITE’s push to internationalise its business – ITE has entered partnerships in Turkey and India.

“This looks a sensible strategic deal, if at the expensive end of recent transactions in our view, with potential to roll out the concept into other emerging market regions,” said Investec analyst Steve Liechti.