Press Release
Issued by CEPA (Central Europe Private Aviation).
April 10, 2013
The Central Europe Private Aviation Association today announced its intention to sell approximately 50% of CEPA Expo's newly issued stock. CEPA will retain ownership of the remaining shares and has no intention of spinning out or otherwise divesting this ownership interest.
Dagmar Grossmann, founder of the association said: “CEPA was originally founded to accomplish a social-business mission, to make East and West more open and connected and so far we have succeeded. Even so, we're aiming higher by making the subsidiary event into something to tangibly share”.
The purpose of turning the CEPA Expo into an open corporation is to give equal and fair participation to reputable entities in the business aviation community. It's a step toward a new way of serving public interests and the first initiative in the business aviation industry that strives for transparency and sustainable participation by offering ownership.
Philippe Lienard, with over 20 years of experience in the aviation industry and current CEPA chairman, added “During my career in the aviation industry, I've always been given opportunities to participate in something that actually serves individual interests; CEPA, a non-profit association, gives honorary titles to recognized talents in the aviation industry whose ideal of a common European ground for business development aligns with those of the association. By turning the CEPA Expo into a shareholding subsidiary, I think it is very clear where this concept is headed.”
CEPA Expo has seen an exponential growth in terms of attendees and topics in relatively short time. This move aims to unlock more value for shareholders while strengthening our ability to retain and attract the aviation industry's top talent.
The annual event secured its leadership position in the aviation conference field, as well as investing in the IT sector by developing their proprietary “Cepenger”. This communication platform allows participants with a mobile device in the audience, to establish communication and dynamically connect with speakers on the podium. The platform has already found demand for usage and licensing for various aviation conferences in 2013.
Brendan Lodge, CEPA's deputy chairman, emphasised “The whole point of CEPA Expo is to bring both sides of aviation together in Europe. The next ten years will see unprecedented growth in the wealth of these countries that were previously restricted behind the old 'Iron Curtain'. Many of the countries that once formed 'Eastern Europe' still have a substantial manufacturing infrastructure. The entrepreneurs that control the key sectors of industry, feeding in and from the established and traditional commercial businesses, are becoming wealthier each day. There is the potential for real growth in the medium term and opportunity for aviation businesses all over Europe and beyond, to join in this growth from the beginning."
The CEPA Expo expects the proceeds to help execute carrying on a vision of an industry-standard infrastructure. It should accelerate the ability to find and attract great people, continue to invest in great product development and grow an even stronger partner ecosystem. There is high potential to return that original investment to shareholders.
