CIBT Licenses Corinthian's WyoTech Brand and Curricula to Target China's Growing Automotive Training Market
31 Octobre 2005 - 3:00PM
PR Newswire (US)
VANCOUVER, B.C. and SANTA ANA, Calif., Oct. 31
/PRNewswire-FirstCall/ -- CIBT School of Business & Technology
Corp. (CIBT), a leading business school in China and a subsidiary
of Capital Alliance Group Inc. (TSX-V: CPT) and Corinthian
Colleges, Inc. (NASDAQ:COCO) have signed a licensing agreement that
will allow CIBT to offer a full line of transportation maintenance
certificate, diploma and degree programs to meet growing demand for
these skills in the greater China market. Under the agreement, CIBT
will have exclusive use of Corinthian's WyoTech brand name and
curricula to operate automotive training schools in China, Taiwan
and Hong Kong, with an option to expand into Thailand. Terms of the
transaction were not disclosed. WyoTech is part of the Titan
Schools division of Corinthian Colleges and operates seven
automotive, motorcycle, aviation and marine technical training
schools across the United States. CIBT will incorporate a new
division, CIBT WyoTech Automotive Institute, to market and deliver
a variety of WyoTech's courses including automotive technical
training, diesel and industrial technology, and manufacturer
specific advanced training. Students will graduate with credentials
fully accredited and recognized in China. The company has commenced
construction of an advanced automotive school in Weifang City,
Shangdong Province, in conjunction with its existing partner
Weifang University. The new campus will encompass more than 150,000
square feet of facilities adjacent to CIBT's existing subsidiary,
CIBT Beihai International Management School. The automotive
industry continues to be one of the fastest growing sectors of the
Chinese economy, according to a special report on China published
in Business Week magazine on May 9, 2005. The article estimated
that 40 percent of Chinese families are planning to buy a new car.
General Motors chairman and chief executive officer Rick Wagoner
was quoted in Fortune magazine's October 4, 2004 issue as saying
that he expects China to become the world's second largest auto
market. Consequently, there will be a huge, unfulfilled demand for
skilled workers and factory certified automotive technicians in
China. "WyoTech has been a leader in automotive technology and
maintenance training in the United States for nearly 40 years,"
said Tim Schutz, president and chief operating officer of
Corinthian's Titan Schools Division. "We are enthusiastic about the
potential in the greater China market and pleased to have the
opportunity to extend our expertise beyond U.S. borders." "We see
tremendous growth opportunities ahead for automotive training in
China and are excited to be entering into this untapped sector with
WyoTech as our partner," said Toby Chu, CIBT's president and chief
executive officer. "Our corporate strategy is to become the largest
education platform in China, with a wide array of academic degree,
technical and trade programs catering to various student population
segments." About CIBT Founded in 1994, CIBT School of Business is a
leading business and technology school in China. CIBT operates
three campuses in Beijing, two campuses in Weifang, and three
learning centers in other cities in China. CIBT has academic
partnerships with Beijing University of Technology and Weifang
University and delivers postsecondary business and technology
education to students and corporations in China. By cooperating
with leading education providers in North America, Europe and Asia,
CIBT continually develops advanced curricula to meet the needs of
China's growing economy. WARNING: This news release contains
forward-looking information. The reader is cautioned that
assumptions used in the preparation of such information, although
considered accurate at the time of preparation, may prove
incorrect. The actual results may vary materially from the
information provided herein. Consequently, there is no
representation by the CIBT that actual results achieved will be the
same as those forecast. THE TSX VENTURE EXCHANGE HAS NOT REVIEWED
AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF
THIS NEWS RELEASE. THIS NEWS RELEASE SHALL NOT CONSTITUTE AN OFFER
TO SELL OR THE SOLICITATION OF AN OFFER TO BUY SECURITIES IN ANY
JURISDICTION. About Corinthian Colleges, Inc. Corinthian Colleges,
Inc. is one of the largest post-secondary education companies in
North America, operating 95 colleges in 24 states in the U.S. and
34 colleges in seven provinces in Canada. The Company's mission is
to help students prepare for careers that are in demand or to
advance in their chosen career. Corinthian offers diploma programs
and associate's, bachelor's and master's degrees in a variety of
fields, concentrating on careers in health care, business, criminal
justice, transportation maintenance, trades and technology. WyoTech
is part of Titan Schools, a division of Corinthian Colleges.
WyoTech schools offer degree and diploma programs in automotive,
aeronautical, diesel, collision/refinishing, motorcycle, marine and
personal watercraft, heating/ventilation/air conditioning and
plumbing technology. In addition, WyoTech offers advanced training
programs in applied service management; advanced diesel; advanced
diagnostics; street rod and custom fabrication; chassis fabrication
and high performance engines; trim and upholstery; and
motor-sports. Corinthian Safe Harbor Statement -- Certain
statements in this press release may be deemed to be
forward-looking statements under the U.S. Private Securities
Litigation Reform Act of 1995. Corinthian Colleges, Inc. intends
that all such statements be subject to the "safe-harbor" provisions
of that Act. Many important factors may cause actual results to
differ materially from those discussed in any such forward-looking
statements, including possible changes in the general economic
conditions in China, Taiwan and Hong Kong, potential restrictions
on trade or foreign investment in China, Taiwan or Hong Kong,
increased competition, uncertainty as to the attractiveness of the
WyoTech brand or curricula in China, Taiwan and Hong Kong, and the
other risks and uncertainties described in the Company's filings
with the U.S. Securities and Exchange Commission. The Company
undertakes no obligation to publicly update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise. Contact For Corinthian Colleges, Inc.
Anna Marie Dunlap SVP Investor Relations/Corporate Communications
+1 714 424 2678 (US) Cecilia Wilkinson/Cathy Kralik PondelWilkinson
Inc. Tel: +1 310 279 5980 (US) Email: or Contact For Capital
Alliance Group, Inc. James Neil Investor Relations Tel:
1-888-865-0901 Ext.322 Email: DATASOURCE: Corinthian Colleges, Inc.
CONTACT: Anna Marie Dunlap, SVP Investor Relations/Corporate
Communications of Corinthian Colleges, Inc., +1-714-424-2678; or
Cecilia Wilkinson, , or Cathy Kralik, , both of PondelWilkinson
Inc., +1-310-279-5980, for Corinthian Colleges, Inc.; or James
Neil, Investor Relations for Capital Alliance Group, Inc.,
+1-888-865-0901, ext. 322,
Copyright
Vita Coco (NASDAQ:COCO)
Graphique Historique de l'Action
De Juin 2024 à Juil 2024
Vita Coco (NASDAQ:COCO)
Graphique Historique de l'Action
De Juil 2023 à Juil 2024