Dmg sells arm as part of shake-up

Dmg World Media is to sell 50 of its exhibitions with its sale of Dmg Business Media.

Dmg World Media is to sell 50 of its exhibitions with its sale of Dmg Business Media.

The sale of its Redhill-based operation comes as the group plans to refocus its operations in the home interest, gifts, art and antiques and sports retailing sectors.

A short list of bidders for Dmg Business Media is to be compiled by the end of November. Final offers are expected by Christmas.

'This refocus is the most significant move so far in the development of Dmg World Media,' said managing director Mike Cooke. 'It provides a clear direction for our future growth.'

Dmg Business Media organises about 50 exhibitions and conferences around the world. It also publishes magazines, directories and market reports.

The company has a turnover of about pounds 30m and operates in business-to-business marketplaces including chemical and pharmaceuticals, metals, marine and electrical retailing.

Senior management staff will remain with the business once it is sold.

'We have chosen sectors where we have a major presence already,' added Cooke. 'We have recognised that our resources would not extend to additionally funding the future of Redhill.'

Meanwhile, Dmg has announced a strategic partnership with US trade show management company George Little Management (GLM).

Dmg has taken a 25% stake in GLM. In return the US company gets a management contract to produce North American gift shows owned by Dmg.




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