International Building Technologies Group, Inc.(fka INBG)

[Anthonyspade]

try again rookie! read and learn the game! like i said, the same news as last year!



International Building Technologies Group, Inc. Progresses with Purchase of Wuhan Wufeng Machinery Manufacturing Company and the
International Building Technologies Group, Inc. (OTCBB:INBG) announced today that the Company has paid a deposit of RMB 1,100,000 (Approximately USD $160,000) for the acquisition of China based Wuhan Wufeng Machinery Manufacturing Company (?Machinery Company?). On June 24, 2008, the China Government granted approval for the Company to acquire 88% of the Machinery Company with registered capital of RMB 26,420,000 (Approximately USD $3,850,000) for a fixed acquisition price of RMB 11,000,000 (Approximately USD $1,600,000). The Company is finalizing an engagement agreement with a CPA firm to perform the audit of the Machinery Company.