TORONTO (Nov. 13, 2002) — The Ontario Trucking Association has approved in principal an agreement to sell the Truck World trade show to New Communications Group, the publisher of Today’s Trucking, highwaySTAR, Transport Routier, and Truck & Trailer magazines.

Financial terms were not disclosed. In a joint statement, the OTA and NCG said the transaction would close within 45 days, pending due diligence and finalization of an official purchase-of-sale agreement.

The statement said the proposed agreement will provide OTA with a guaranteed revenue stream that will assist the association in its primary mandate of lobbying on behalf of the trucking industry. At the same time, the sale to NCG ensures that the trade show stays within the industry and has the opportunity to grow.

The parties said they would make no further comment until after closing.

The show, created by the OTA in 1998, is the largest exposition of products and services in the country. It is scheduled every second year. The 2002 show took place on Sept. 26-28 in Toronto and drew over 330 exhibitors including all of the leading industry suppliers, the OTA said.