CIBT Expands to North-Eastern China
Capital Alliance Group Inc. (TSX.V: CPT) reports that its subsidiary, CIBT School of Business & Technology Corp., has signed a letter of intent (“LOI”) with Tianjin University.
The LOI between CIBT and Tianjin University is to establish a CIBT Education Center and to deliver various CIBT programs at Tianjin University. Terms of the agreement are currently being finalized and will be disclosed at a later date.
“Our national expansion plan to own a network of 50 CIBT Education Centers in China by 2010 is progressing with great speed and success,” stated Toby Chu, President and CEO of Capital Alliance Group Inc. and CIBT. “We are excited to have finally established a foothold in China’s three largest cities notably, Beijing, Guangzhou and now Tianjin. Each one of these cities has populations exceeding 10 million people. Our next step is to continue our expansion targeting other smaller cities with populations ranging from 1 to 10 million people.”
About Tianjin City, Tianjin Province:
Tianjin City is the provincial capital of Tianjin Province and is the third largest municipality in China in terms of land area size. With a population of over 10 million people, Tianjin City had a nominal GDP of US$45.8 billion in 2005, a year-over-year increase of 14.5%. The manufacturing sector is the largest and fastest growing sector in the city’s economy, and construction of an Airbus A320 assembly facility is currently underway with the first aircraft expected to roll off the production line in 2008.
About Tianjin University:
Tianjin University is a national university under the direct administration of the Ministry of Education in China. Founded in 1895 as Beiyang University, the institution was renamed to its current name in 1951. The university has a student body of over 20,000 students, and was one of the first 16 universities to be accredited by the State as a national university. Tianjin University consists of 12 schools offering 43 specialties and is located on a 1.37 square kilometer campus with 800,000 square meters of facility space.
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