Is Reed Dragging It's Heels On Sale Of Arms Fair Division

Written by Sean Hocking

Regular readers will remember that last year a concerted effort by  editors within the publishing conglomerate and clients forced Reed management to take a decision on the sale of its arms fair conference division.. Now the Campaign Against The Arms Trade in the UK reports that  the "DSEi-organiser Reed Elsevier has missed its deadline for exiting the arms fairs business."  Last June, following a two-year campaign coordinated by CAAT, the company announced: ‘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.’ However, the CAAT website tells us that  just a few weeks ago, the Guardian reported that the company’s Chief Executive didn’t recall giving any timing and wouldn‘t commit to any, claiming that ‘the defence sale is proceeding fine.’ They go on to write: Concerns This may be the case, but it is equally possible that there are problems. In the case of the arms fair portfolio, any potential purchaser with significant non-military interests is likely to be wary of being on the receiving end of the same kind of criticism experienced by Reed. For companies without such concerns, a much more pressing problem is the closure of DESO, the Ministry of Defence’s arms sales unit. Prior to its demise, DESO was the co-organiser of the DSEi arms fair in East London. The reallocation of DESO’s functions will undoubtedly raise questions about the arms fair’s bottom line. The profitability of DSEi is entirely dependent on full, co-ordinated government support. AGM Until Reed has actually exited the business, it is important that the company continues to be made aware of widespread concerns over its involvement. As such, unless there is an announcement in the meantime, CAAT and other campaigners will attend the Reed Elsevier AGM on the 23rd April to question the board. If you are a Reed shareholder you would be very welcome to join us.

 

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