JERUSALEM- September 20th 2016: CDI Systems Technology (CDI) - a Chinese subsidiary of CDI Systems & Anhui Expressway Media Co. Ltd. (AEM) have signed a joint cooperation agreement.
Both parties have agreed to jointly invest in the setting up of a Sino-foreign joint venture company in the Hefei, Anhui Province engaging in the digital publishing business.
After the Joint Venture is founded, AEM will contribute its local market advantage, advertising business and financial resources while CDI will be responsible for all technological aspects of the initiative. Through its parent company, CDI will also explore business channels from Israel to be incorporated into the JV.
AEM Chairman Mr. Cau said, "I believe this agreement will diversify our company’s business in the growing industry of digital publishing as well as strengthen our presence in the overall Chinese e-publishing market. CDI is the right partner to get the job done."
CDI’s Chairman, Mr. Itzhak Levit added, "We are very glad to have signed this agreement with AEM. This is consistent with our company’s strategy to continue growing in the Chinese market through our subsidiary, establishing JV cooperation's with large SOE's."
About Anhui Expressway Media
Anhui Expressway Media Co. Ltd is affiliated with Anhui Transportation Holding Group Co., Ltd. with the registered capital of 50 million RMB. It has been selected as the Top10 Highway Advertisement in China for 7 consecutive years. Until now the Expressway Media has owned more than 1900 advertising boards of different types and more than 400,000 Square meters advertising area, which makes it one of the largest State-owned advertising enterprises in China.