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Press Releases
Global Sources extends its contract with AsiaWorld-Expo to host China Sourcing Fairs in Hong Kong through 2014
Approximately US$3.5 million in agreements include license to host new trade shows beginning Spring 2011 HONG KONG, February 23, 2011 – Global Sources (NASDAQ: GSOL) (http://www.globalsources.com) has extended its contracts with AsiaWorld-Expo Management (AWE) to host China Sourcing Fairs at Hong Kong's AsiaWorld-Expo from 2011 through 2014, in addition to the renewed contracts announced in June 2010, representing a total gross value of approximately US$16.7 million.
Under the terms of the extended contracts, valued at a gross amount of approximately US$3.5 million, Global Sources is scheduled to host its new Medical & Health Products and Solar & Energy Savings Products shows in the spring of 2011 through 2014. In addition, Global Sources has added six Phase three Fashion Accessories, Underwear & Swimwear and Garments & Textiles shows to be held during the fall of 2011 and 2012 and during the spring and fall of 2013 and 2014. Global Sources' chairman and CEO, Merle A. Hinrichs, said: "Extending our contracts with AsiaWorld-Expo continues the expansion of Global Sources' high quality, face-to-face trade shows. I am happy to announce the inaugural Medical & Health Products and Solar & Energy Savings Products shows scheduled to be held in April 2011, in addition to securing additional contracts for our Phase three shows, all of which expands and complements our existing lineup of China Sourcing Fairs. The AsiaWorld-Expo is Hong Kong's preeminent exhibition facility. Its location, configuration flexibility, and services are unique. We are proud to call it home for our highly specialized China Sourcing Fairs." China Sourcing Fair exhibitors donate product samples under Care & Share program Global Sources launched the Care & Share charity program in 2006. Seven truckloads of product samples were collected at the October 2010 China Sourcing Fairs in Hong Kong. Items donated at the Fairs include furniture, home products, baby and children's products, computer accessories and electronic appliances. The products were given to the non-profit Crossroads Foundation (http://www.crossroads.org.hk) for distribution to people affected by natural disasters, conflict and poverty around the world. 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. |
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