Reed Exhibitions Reveals Acquisition of New Joint Venture

January 27, 2015

Further to an announcement made in November 2014, Reed Exhibitions Greater China has revealed its partnership agreement with Shanghai Kuozhan Exhibitions, the organiser of C-TOUCH, resulted in the formation of a new joint venture (JV) – Reed Exhibitions Kuozhan. Reed Exhibitions did not previously acknowledge this, but it appears that the partnership is in fact an acquisition.

Financial details of the deal have not been disclosed. The JV will form part of Reed’s portfolio of five China-based events serving the wider electronics industry, which together cover more than 150,000 m2 of gross exhibition space. C-TOUCH is held twice each year – in Shenzhen in November and in Shanghai in May – and focuses on touch screen technology including touch panels, manufacturing materials, components and equipment, and other touch screen products.

Nat Wong, president of Reed Exhibitions Greater China, noted, “I am proud to welcome yet another dynamic team to the Reed family. C-TOUCH is an exciting addition to our electronics manufacturing and assembly portfolio. This highly-successful event goes beyond the limits of show floor exhibits by offering suppliers and buyers an effective platform to conduct business while networking with industry experts and potential partners at all points of the market chain. I am confident that we will work together to not only fulfil, but exceed client expectations.”

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MGM Resorts is committed to fostering an inclusive and diverse culture, not just among employees and guests but also within its supply chain. The company prioritizes procuring goods and services from businesses owned by minorities, women, veterans, people with disabilities, LGBTQ individuals and those facing economic disadvantages. This commitment is integral to MGM Resorts' global procurement strategy.    Through its voluntary supplier diversity program, MGM Resorts actively identifies and connects certified diverse-owned suppliers to opportunities within its supply chain. The company is on track to spend at least 15% of its biddable procurement with diverse-owned businesses by 2025, demonstrating that supplier diversity is not only a social responsibility but also a strategic business imperative.    Supplier diversity isn’t just the right thing to do – it’s good for business. A diverse supply chain allows access to a broader range of perspectives and experience, helping to drive innovation, entrepreneurship and resilience, while strengthening communities. At MGM Resorts, engaging diverse suppliers ensures best-in-class experiences for guests and clients. Supplier diversity ensures a more resilient supply chain while supporting economic development in the communities in which it operates.   The impact of MGM Resorts' supplier diversity initiatives is significant. In 2023, these efforts supported over 3,500 jobs across more than 30 states, contributed over $214 million in income for diverse-owned businesses and generated more than $62 million in tax revenue. The story extends beyond the numbers – it reflects the tangible benefits brought to small and diverse-owned businesses, fostering economic empowerment in their communities.    MGM Resorts also supports the development and business skills of diverse-owned businesses through investment, mentorship and education. Through the MGM Resorts Supplier Diversity Mentorship Program, the company identifies, mentors and develops diverse-owned businesses to fill its future pipeline, while providing businesses with tools and resources to empower and uplift. Since 2017, the program has successfully graduated 105 diverse-owned businesses and is on track to achieve its goal of 150 graduates by 2025.     MGM Resorts’ commitment to supplier diversity not only enhances its business operations but also plays a crucial role in uplifting communities and fostering economic development. This approach reinforces the idea that diversity is a powerful driver of innovation and resilience, benefiting both the company and the wider community.