NEW YORK, Dec. 8, 2016 /PRNewswire/ -- American Education Center Inc. ("AEC" or the "Company;" OTCQB: AMCT), a publicly reporting, emerging growth company providing educational and career enrichment opportunities for students, teachers, enterprises and educational institutions between China and the United States, announced today the acquisition of 100% equity ownership in AEC Southern Management Co., Ltd ("AEC Southern"), a company formed pursuant to the laws of England and Wales. AEC Southern's wholly owned subsidiary and affiliated entities have operations in Shenzhen, China.
Jay F. McKeage, Chief Executive Officer of AEC, commented, "We are pleased to announce our acquisition of AEC Southern, with physical operations in Shenzhen, which is intended to provide the platform for our planned expansion in the China marketplace. We have already put local management in place there to help us identify and acquire additional sources of revenue for our educational consulting services."
Shenzhen, in the province of Guangdong, is designated by the People's Republic of China as a Special Economic Zone ("SEZ") City. SEZs are granted a more free-market oriented economic and regulatory environment, with business and tax policies designed to attract foreign investment and technology.
For detailed information regarding the terms of the acquisition, please refer to the Company's Current Report on Form 8-K filed with the U.S. Securities and Exchange Commission on November 8, 2016.
About American Education Center Inc. (OTCQB: AMCT)
AEC's rapidly growing business provides one-stop comprehensive consulting services for international students, educators, and institutions. The Company's services are focused on international education exchange, by providing educational and career enrichment opportunities for students, teachers, and educational institutions between China and the United States. The Company currently provides admission, housing and other consulting services to Chinese students wishing to study in the United States. The Company also provides exchange and placement services for qualified United States educators to teach in China. In addition, the Company provides localization consulting services for employees coming to the United States to work for multi-national companies with operations here.
Disclaimer: Some of the statements in this press release may be forward-looking statements or statements of future expectations based on currently available information. Such statements are naturally subject to risks and uncertainties. Factors such as the development of general economic conditions, future market conditions, unusual catastrophic loss events, changes in the capital markets and other circumstances may cause the actual events or results to be materially different from those anticipated by such statements. American Education Center Inc. does not make any representation or warranty, express or implied, as to the accuracy, completeness or updated status of such statements. Therefore, in no case whatsoever will AEC and its affiliate companies be liable to anyone for any decision made or action taken in conjunction with the information and/or statements in this press release or for any related damages.
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SOURCE American Education Center Inc.