PRN: UBM Sinoexpo Acquires Leading Shanghai Wine Tradeshow Winexpo
UBM Sinoexpo Acquires Leading Shanghai Wine Tradeshow Winexpo
HONG KONG, July 12, 2012 /PRNewswire/ -- UBM Sinoexpo (www.ubmsinoexpo.com) today announces that it has acquired the Winexpo tradeshow from Shanghai Golden Commercial Exhibition Co Ltd.Â UBM Sinoexpo is the joint venture company between UBM Asia (www.ubmasia.com) and Shanghai Sinoexpo International Exhibition Ltd.
Winexpo (www.winefair.com.cn/wine/en/) is held in May and in November each year in Shanghai. First launched in 2005, Winexpo focuses on serving the fast-growing China wine market. The May 2012 event was held in INTEX Shanghai and attracted almost 100 exhibitors and over 5,300 trade visitors. The autumn 2012 event will take place 28 - 30 November. From 2013, Winexpo will be co-located with UBM's existing tradeshow, Hotelex Shanghai, China's leading show for hotel supplies and equipment.
As income levels rise China is becoming one of the world's largest wine markets. Research by the London-based International Wine and Spirit Research (IWSR) covering 28 producing countries and 114 markets, China is now the fastest-growing wine market in the world, having grown six-fold in five years. Industry revenue is expected to reach RMB84.2 billion (US$13.23 billion) in the next five years, with imported wine accounting for 26% of the total. Not only are international producers focused on building their presence in China and across Asia but domestic production is growing, with China forecast to become the world's sixth largest wine-producing nation in three years, after France, Italy, Spain, the United States and Argentina.
The event's founder, Yang Jianzhuang, will remain with the business as a consultant and a joint organizer. Winexpo will be managed by Shanghai UBM Sinoexpo as revealed by Zhang Xueqiang, Managing Director, UBM Sinoexpo.
Jime Essink, President and Chief Executive Officer of UBM Asia said:
"This acquisition helps us to further serve our customers' needs: UBM Sinoexpo's Hotelex Shanghai show already has very successful sections for coffee, tea and fine food so the addition of Winexpo will enrich the product range available to buyers visiting the show.Â Winexpo exhibitors will also benefit from exposure to Hotelex Shanghai's visitors, many of whom are substantial wine purchasers from the hospitality and catering sectors.Â We welcome Mr Yang and the Winexpo team to the UBM family."
Notes to Editors
1.Â Â Â About UBM Asia (www.ubmasia.com)
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