Italian trade show organiser Rimini Fiera Spa and Fiera di Vicenza Spa have merged to create Italian Exhibition Group Spa (IEG).
IEG is reportedly Italy's first example of a merger between trade show companies.
The company reports that the merger makes it the top player in Italy in terms of directly organised shows. Its stated aim is to be listed in the Stock Exchange and to act as the ‘unifying element’ for other trade show organisations.
Lorenzo Cagnoni (pictured) has been named president of the board with Matteo Marzotto as vice president.
IEG becomes the top entity in Italy in terms of the number of directly organised shows with 61 products in its portfolio (90 per cent own property) and 160 other events and congresses.
The company is expecting a turnover of around €119m; the second Italian player in terms of overall volume.
Italian Exhibition Group Spa was presented today in Rimini during a press meeting attended by president Lorenzo Cagnoni, VP Matteo Marzotto and managing director CorradoFacco. Andrea Gnassi, the Mayor of Rimini, and AchilleVariati, the Mayor of Vicenza, also intervened.
Lorenzo Cagnoni, president of IEG, said: “It is a new operation, a model. IEG unites two robust companies that have taken on the responsibility to develop an industrial project to reap the obvious market opportunities in Italy and the world.
“While remaining deeply rooted within our territories of reference, where both trade show organisations have found the mainstay of their success, I can also see a company listing in the future of IEG. Due to the prospects that will unfold with the signing of the merger between Rimini and Vicenza and the expectation that other already open dossiers will reach positive conclusions in acceptable timelines, the timeframe within which our road to becoming a listed company could, market permitting, be defined and happen in the spring of 2018. At that time, we will also have the balance sheet for 2017, which will be the first complete year of our new experience following the merger”.
