HANNOVER, GERMANY - Deutsche Messe, the organizer of Ligna, the world's largest woodworking fair, and other events, announced plans to invest in the development of the Hannover Exhibition Center.
"For Deutsche Messe, the year 2011 marked a substantial turnaround," emphasized Dr. Wolfram von Fritsch, Chairman of the Managing Board of Deutsche Messe AG. "All the financial indicators show that the positive trend is continuing, thanks to the Hermes+ program initiated in 2008. We are keeping our word: Deutsche Messe will continue to operate and grow on the basis of its own resources and, over a four-year period, will reach its target of achieving a cumulative profit."
The German Supervisory Board laid the groundwork for the rebuilding of two halls in the Exhibition Center along with a Board approval of capital spending worth more than €60 million, the largest investment package in over 10 years.
Construction on the halls is scheduled to begin this year and will be completed by year 2015.