(Source: Press Release of Global Sources, 21 June 2010)
(Hong Kong, 21 June 2010) Global Sources (NASDAQ: GSOL) has renewed its contracts with AsiaWorld-Expo Management to host China Sourcing Fairs (http://www.chinasourcingfair.com) at Hong Kong’s AsiaWorld-Expo (AWE) for 2013 and 2014. The renewal contracts represent a total gross value of approximately US$16.7 million.
Global Sources’ chairman and CEO, Merle A. Hinrichs, said: “This renewal extends a very successful relationship that is fundamental to our rapidly growing trade show business. When we began at the AsiaWorld-Expo in 2006 we had three China Sourcing Fairs that were held twice yearly. This year, we have scheduled 56 trade shows in various cities, with the AsiaWorld-Expo being by far our largest and most important venue.
“We are very pleased with the AsiaWorld-Expo. Buyers appreciate its unmatched convenience and superb facilities, as do our exhibitors, who come primarily from mainland China, Hong Kong, Taiwan, Korea, India and across Southeast Asia. During the last year, attendance at our AWE shows exceeded 133,700 visitors and featured more than 12,600 booths. With the continued support of the Hong Kong government, we look forward to launching many more shows at this excellent venue.”
The China Sourcing Fair is a key component of Global Sources’ multi-channel offering of online marketplaces, trade shows, and digital and print magazines. Since import buyers do not place large volume orders through online marketplaces, suppliers want the face-to-face opportunities at our shows -- where they can negotiate with buyers and win orders. Also, with various media integration initiatives underway, the expanded show schedule will provide tremendous additional exposure and sales leads for all of our advertisers.
For more information about China Sourcing Fairs, visit www.chinasourcingfair.com.
For more information about Global Sources, kindly visit www.globalsources.com.
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AsiaWorld-Expo is a public-private partnership between the Hong Kong SAR Government (majority shareholder) and a private sector consortium formed by Dragages Hong Kong Limited and Industrial and Commercial Bank of China (Asia) Limited, with the Airport Authority Hong Kong contributing the land.
AsiaWorld-Expo is offering over 70,000 square metres of rental space. With 10 state-of-the-art ground-level and column-free exhibition and events halls including the 13,500-seat AsiaWorld-Arena, the biggest purpose-built indoor seated entertainment arena in Hong Kong as well as the AsiaWorld-Summit, Hong Kong’s newest and largest indoor conference and banquet venue that seats 700 to 5,000 persons, AsiaWorld-Expo is Asia’s only column-free, ground-level exhibition and events venue – fully integrated with the World’s Best Airport, Hong Kong International Airport (World Airport Survey by Skytrax). The complex is located at the centre of an extensive and efficient air, land, and marine transport network which connects Hong Kong to China's Pearl River Delta and the world's business capitals. It is ideally suited to hosting world-class exhibitions, conventions, concerts, sports, and entertainment events.
About Global Sources
Global Sources is a leading business-to-business media company and a primary facilitator of trade with Greater China. The core business uses English-language media to facilitate trade from Greater China to the world. The other business segment utilizes Chinese-language media to enable companies to sell to, and within Greater China.
The company provides sourcing information to volume buyers and integrated marketing services to suppliers. It helps a community of over 888,000 active buyers source more profitably from complex overseas supply markets. With the goal of providing the most effective ways possible to advertise, market and sell, Global Sources enables suppliers to sell to hard-to-reach buyers in over 240 countries.
The company offers the most extensive range of media and export marketing services in the industries it serves. It delivers information on 4.5 million products and more than 256,000 suppliers annually through 14 online marketplaces, 13 monthly print and 15 digital magazines, over 80 sourcing research reports and 21 specialized trade shows which run 56 times a year across 9 cities.
Suppliers receive more than 136 million sales leads annually from buyers through Global Sources Online (http://www.globalsources.com) alone.
Safe Harbor Statement
This news release contains forward-looking statements within the meaning of Section 27-A of the Securities Act of 1933, as amended and Section 21-E of the Securities Exchange Act of 1934, as amended. The company's actual results could differ materially from those set forth in the forward-looking statements as a result of the risks associated with the company's business, changes in general economic conditions, and changes in the assumptions used in making such forward-looking statements.