Dubai-based Nicholas Publishing International (NPI) has joined forces with Options Cassoulides Group (OCG), a public limited company based in Cyprus, following the conclusion of a Share Purchase Agreement in late December 2005.
Details of the agreement have been made public through an announcement to the Cyprus Stock Exchange however NPI will continue to operate as a family-run business benefiting from the advantage of being part of a global corporation.
'We have identified a number of publishing opportunities in the region and the support and back-up of a multi-national organisation will help us to realise our long-term targets in the shorter term,' said Managing Director, Robert Nicholas.
'NPI is known for its professionalism and the quality of its products, and Options Cassoulides Group will help to support and assist the company with its ambitious growth plans,' said Yiannos Cassoulides, Group CEO. 'As far as the operation of the company is concerned, there will be no changes, however as part of OCG, NPI will be able to utilize the resource of a company with offices in six European countries, its own printing press, the largest publishing house in Cyprus, along with the resources of Travel Trade Gazette Middle East and North Africa. We share the vision of NPI and will help the company to further develop an already highly successful growth plan.'
NPI publishes a range of guides for meetings, incentives, conferences and exhibitions (MICE) and is the company behind Dubai's leading visitor publication, Concierge Magazine, currently distributed in-room at 56 hotels throughout Dubai.
Options Cassoulides Group is a public limited company with diverse interests, but mainly focused on the travel and tourism industry, with event management companies, a congress division, and the monthly Travel Trade Gazette publication for the Middle East and North Africa. This provides a natural synergy with NPI's MICE products and widens the opportunities for the company to diversify its involvement in regional events.
In 2006, NPI will be launching new publications both in the Gulf market and further afield, as well as opening offices in other destinations. The company was recently appointed to produce a Concierge Magazine for the Ryder Cup 2006, taking place in Ireland, with distribution to corporate guests in 80 hotels. This is the first time that a homegrown magazine concept from Dubai will be taken internationally.
URL: http://www.ameinfo.com/75111.html, 2nd January 2006
