China TransInfo Technology Signs Taxi Media Placement Agreement in Dalian
January 2nd, 2009
PRNewswire-Asia-FirstCall: BEIJING, Jan. 2 /PRNewswire-Asia-FirstCall/ -- China TransInfo Technology Corp., (Nasdaq: CTFO), ("China TransInfo" or "the Company"), a leading provider of public transportation information systems technology and comprehensive solutions in the People's Republic of China ("PRC"), today announced that, through its majority owned subsidiary Dalian Dajian Zhitong Information Service Co., Ltd. (Dajian Zhitong), it has entered into a 5-year taxi advertisement placement agreement with Dalian Liyang Media Limited ("Dalian Liyang"). Dajian Zhitong will receive no less than RMB 18 million (approximately $2.63 million) per year based on the agreement. Dalian is a regional economic center in Northeast China with a population of over six million. "We are very pleased to finalize a long term cooperative relationship with Dalian Liyang. As we have just initiated our partnership with China Mobile to jointly install in-taxi LED GPS security surveillance devices in Dalian, this new agreement with Dalian Liyang will ensure our long term success and profitability in the city," said Mr. Shudong Xia, CEO of China TransInfo. "We look forward to increasing our brand recognition and more actively deploying our dynamic and innovative taxi media advertising platform in Dalian."
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