Huveaux PLC, the specialised publishing and media business, continues on its path to becoming one of the leading providers of European political data by completing the acquisition of Parliamentary Communications.
As a result, Huveaux adds four specialist political journals and websites, including Brussels-based The Parliament Magazine and EUPolitix, into its existing portfolio of publications. These include the well established and highly regarded Dod’s European Union Companion range, Le Trombinoscope and Public Affairs Newsletteri and the soon to be published Eurosourceii political guide to the enlarged EU.
Huveaux’s sixth acquisition since 2001iii and second in 2004, which is valued at €23.5 million (£15.7 million), will enable the company to develop significant synergies between its publications. The company plans to continue to build upon the achievements of The Parliament magazine and restructure the loss-making EUPolitix bringing the operation back into profit. The smaller team necessary in Brussels will therefore result in some job losses in the office of EUPolitix.
Jean-Marie Simon, Managing Director Le Trombinoscope, will have full management responsibility for The Parliament Magazine and EUPolitix. Mr Simon has substantial management, publishing and finance experience in France and across Europe.
Commenting from Brussels today, Mr Simon said:
“We are strongly committed to developing this new arm of our business. There is a growing market for quality political information and we believe that both The Parliament Magazine and EUPolitix are excellent products that can meet that demand”.
“Although job losses at EUPolitix are unfortunate, this action will safeguard the jobs of the remaining staff by bringing the EUPolitix operation into profit”.
“The accession of new countries to the EU and the forthcoming European Parliamentary elections are expected to produce strong demand for high quality political information. Huveaux’s ambition is to become the leader in providing the finest quality, ‘must have’ political information throughout Europe. The acquisition of Parliamentary Communications is a major step towards achieving this goal.”
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Notes to the Editor
i In total, Huveaux now owns seven magazines and newsletters, five leading political websites, a political monitoring service, the leading UK and EU political biographical database publisher and offers political training seminars. Huveaux now operates from London, Paris and Brussels.
ii Eurosource 2005 is a joint publication by Dod’s Political Publishing and Le Trombinoscope, its French equivalent. Eurosource 2005 is a combination of a 150-page guide (published May 2004), two 350-page volumes and a comprehensive website, scheduled to go live as soon as the results of the elections and appointments are known during the course of 2004.
iii Huveaux is listed on the AIM market of the London Stock Exchange and had a market capitalisation of £46 million as at 1 June 2004. It employs 150 people in 3 countries. Parliamentary Communications is anticipated to enhance Huveaux’s earnings per share in 2004.
For all press enquires contact :
Mr Jean-Marie Simon
Official spokesperson for Huveaux
Mobile: 00 33 609 67 81 92