Reed Elsevier to exit the defence exhibitions sector
01 June 2007
Reed Elsevier announced today that it is to exit the defence exhibitions sector. This portfolio of five shows is part of Reed Elsevier's global Business division and represents around 0.5% of group annual turnover.
Sir Crispin Davis, Chief Executive Officer of Reed Elsevier, said:
"Our defence shows are quality businesses which have performed well in recent years. Nonetheless, it has become increasingly clear that growing numbers of important customers and authors have very real concerns about our involvement in the defence exhibitions business.
"We have listened closely to these concerns and this has led us to conclude that the defence shows are no longer compatible with Reed Elsevier's position as a leading publisher of scientific, medical, legal and business content."
Reed Elsevier intends to complete its withdrawal during the second half of 2007, subject to honouring its obligations to partners, customers and other key stakeholders.
As a freelance medical copyeditor and a pacifist, I am thrilled to be able to end my boycott of all Elsevier journals. I am sure that other publishing professionals and scientists will happily end their boycott too.
We spoke out, and the giant listened.
Updated 9:05 a.m.: Here is some background, provided by Reed Elsevier, on Reed Elsevier and the weapons fairs that its Reed Exhibitions division has hosted:
Reed Elsevier is a world leading publisher and information provider. It is owned equally by its two parent companies, Reed Elsevier PLC and Reed Elsevier NV. The parent companies are listed on the London, Amsterdam and New York Stock Exchanges, under the following ticker symbols: London: REL; Amsterdam: REN; New York: RUK and ENL. In 2006, Reed Elsevier made adjusted profit before taxation of £1,052 million on turnover of £5,398 million. The group employs 37,000 people, including approximately 20,000 in North America. Operating in the scientific, legal, educational and business-to-business sectors, Reed Elsevier provides high value and flexible information solutions to professional end users, with increasing emphasis on internet delivery.
Reed Exhibitions is the world's leading events organiser. In 2006, Reed brought together over six million industry professionals from around the world generating billions of dollars in business. Today, Reed events are held in 34 countries throughout the Americas, Europe, the Middle East and Asia Pacific, and organised by 37 fully staffed offices. As part of Reed Elsevier's Business division, Reed Exhibitions organises a wide range of events, including exhibitions, conferences, congresses and meetings. Its portfolio of over 460 events serves 52 industry sectors.
Within the aerospace and defence portfolio of its Reed Exhibitions division this announcement will affect the following shows: DSEi, IDEX, ITEC, LAAD and TADTE.
DSEi (Defence Systems and Equipment International) is held every two years in London and is the world's fastest growing defence exhibition
IDEX is held every two years in Abu Dhabi and is the Middle East's premier defence exhibition and conference
ITEC is a training and simulation exhibition held every year in different European cities
LAAD (Latin American Aero and Defence) is held every two years in Rio de Janeiro
TADTE (Taipei Aerospace & Defence Technology Exhibition) is held every two years in Taiwan
Updated 9:19 a.m.: The Lancet, an Elsevier journal that has been in the forefront of the uproar over Reed Exhibitions' involvement in weapons fairs, has written an editorial about Reed Exhibitions' change of heart.
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