Liège, Belgium—Jan 11, 2013
dcinex reinforces its presence in South East Europe by increasing its stake in dcinex Austria
dcinex (Belgium) today announced that it has entered into an agreement with Thomas Rüttgers to acquire the 26% stake he owns in dcinex Austria.
As a result of this agreement, dcinex will own 77% of dcinex Austria, the mother company of its Exhibitor Services operations in South Eastern Europe (Belarus, Croatia, Italy, Hungary, Romania and Russia).
In parallel to this transaction, Thomas Rüttgers, owner and managing director of ECCO GmbH, will leave all his management duties within dcinex; including his South Eastern Europe coordination role. Consequently, all dcinex country managers will now report directly to Till Cussmann, VP Exhibitor Services of dcinex.
"We are very enthusiastic to increase our stake in Austria and in South East Europe as it will help us capture a larger share of the growth the region is currently experiencing," explained Serge Plasch, CEO of dcinex who added:"I would also like to warmly thank Thomas for his friendship and professionalism, which truly contributed to the success of dcinex. While the acquisition of FTT, Thomas' Exhibitor Services business, helped dcinex being well positioned in Germany and in The Netherlands, his continued dedication brought us to the next level in more growing regions."
"When I joined dcinex in 2008, I would never have imagined our company growing that fast and having so many opportunities to develop; in particular in Eastern Europe. Being part of it was a real pleasure," said Thomas Rüttgers who will now act as an independent advisor to the cinema industry.