JCDecaux wins Shanghai Airports contract

26th January 2005, Comments 0 comments

PARIS, Jan 26 (AFP) - French outdoor advertising firm JCDecaux said Wednesday a new Chinese joint venture had won a 15-year order worth EUR 490 million (USD 636 million) from Shanghai Airports to manage interior and exterior advertising.

PARIS, Jan 26 (AFP) - French outdoor advertising firm JCDecaux said Wednesday a new Chinese joint venture had won a 15-year order worth EUR 490 million (USD 636 million) from Shanghai Airports to manage interior and exterior advertising.

The joint venture was created by the group's JCDecaux Pearl and Dean unit, which holds 35 percent of the new venture.

The new entity, JCDecaux Momentum Shanghai Airport Advertising Company, groups JC Decaux with Shanghai Airports, which holds a 50-percent stake in the new group, and local media group Momentum, which will hold 15 percent.

The contact is to run from 2005 to 2019.

Decaux chief executive Jean-Charles Decaux said in an interview with French newspaper Le Figaro that the contract was part of the company's strategy to develop its activities in the Asia Pacific region.

"The Asia Pacific region, where we have eight percent of our sales, is clearly going to boost our business. In four years we should double our size in the region," he said.

© AFP

Subject: French News

0 Comments To This Article