Universal Travel Group Announces Intent to Acquire Speedy Dragon Enterprise
LOS ANGELES and SHENZHEN, China, April 2 /PRNewswire-FirstCall/ — Universal Travel Group (BULLETIN BOARD: UTVG) , a leading air travel service provider in Southern China, announced today that its wholly-owned subsidiary, Shenzhen Yu Zhi Lu Aviation Service Company Ltd. is engaged in late stage negotiations to acquire Shenzhen Speedy Dragon Enterprise Ltd.
Shenzhen Speedy Dragon Enterprise Ltd., based in Pearl River Delta, China, is a nationwide cargo logistics company providing commercial, point-to-point parcel and container transportation services. Speedy Dragon also operates as an international and domestic freight forwarding agency for Chinese commercial airlines and provides railwayand express delivery services. Speedy Dragon has a fleet of more than 200 franchised vehicles and manages warehouses totaling 40,000 square meters(approximately 430,556 square feet), which it uses to stage, transfer and store packages in transit. The annual volume of the company’s air cargo transportation accounted for approximately 30% of the total air cargo market in Shenzhen, China. Speedy dragon’s air cargo division has been rated the number one sales agent in Shenzhen by China Southern Airline and Shenzhen Airline every year since 1996. For more information about Speedy Dragon, please visit http://www.xunsulong.com/.
Chairman and Chief Executive Officer, Ms. Jiangping Jiang said, “Universal Travel Group will significantly strengthen its air cargo transportation services division with this acquisition. We believe it will also further enhance our ties with commercial airlines and increase our company’s competitiveness. Subject to the completion of our due diligence and related matters, including confirmation of the financial results of Speedy Dragon and agreement on all details of the transaction, we intend to complete this acquisition promptly, which will enable us to capture more revenues and generate increased shareholder value.”
About Universal Travel Group
Universal Travel Group, through its wholly-owned subsidiary, Shenzhen Yu Zhi Lu Aviation Service Company Ltd., is engaged in providing reservation, booking, and domestic and international travel and tourism services throughout China. The company’s core services include booking services for air tickets, hotels and restaurants, as well as tour routing for customers. The company’s goal is to become China’s leading travel services provider. For more information, visit http://www.chutg.com/.
A profile for investors can be accessed at http://www.hawkassociates.com/utvgprofile.aspx. For investor relations information regarding Universal Travel Group, contact Jacalyn Guo at +1-310-443-4151, e-mail Jacalyn@chutg.com, or contact Frank Hawkins or Julie Marshall, Hawk Associates, at +1-305-451-1888, e-mail info@hawkassociates.com. An online investor kit including press releases, current price quotes, stock charts and other valuable information for investors may be found at http://www.hawkassociates.com/ and http://www.americanmicrocaps.com/. To receive free e-mail notification of future releases, subscribe at http://www.hawkassociates.com/email.aspx.
Forward-looking Statement:
The statements in these news releases contain forward-looking information within the meaning of the Private Securities Litigation Act of 1995. Such forward-looking statements involve certain risks, assumptions and uncertainties. In each case actual results may differ materially from such forward-looking statements. Any statements regarding targets for future results are forward-looking and actual results may differ materially. These are the company’s targets, not predictions of actual performance.
Investor Relations Contact: Hawk Associates, Inc. Frank Hawkins and Julie Marshall Phone: (305) 451-1888 E-mail: info@hawkassociates.com http://www.hawkassociates.com/ Contact: Jacalyn Guo e-mail: : Jacalyn@chutg.com Phone: (310) 443-4151 http://www.chutg.com/
Universal Travel Group
CONTACT: Jacalyn Guo for Universal Travel Group, +1-310-443-4151,Jacalyn@chutg.com: Investor Relations, Frank Hawkins or Julie Marshall forHawk Associates, +1-305-451-1888, info@hawkassociates.com
Web site: http://www.chutg.com/