International Building Technologies Group, Inc (INBG.OB) announced that the company has entered into a Memorandum of Understanding [MOU] with the city of Changchun in the Jilin Province of China. According to this document, International Building Technologies is to build two structures, approximately (59,000 sq ft), utilizing the company’s panel technologies and products.
The signed MOU specifies that a Final Agreement will be reached after IBT completes all structural construction in this province. The total subcontracted sum for IBT is estimated to be valued at approximately RMB 5,500,000, US$800,000.
Kenneth Yeung, CEO of International Building Technologies Group, Inc., stated, “Our participation of the Jilin University New Campus Project will provide us with a great chance to build a model project with our panels and technologies in the China market, strategically establish the images of Eco-Friendly products for IBT, and strongly support IBT’s planning and ability to supply the market with panel products in China and throughout the world.”
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