Expansion of International Schools divisionNordAnglia Education PLC07 March 2006 Nord Anglia Education plc Expansion of International Schools division Nord Anglia Education ('Nord Anglia' or 'the group') is a leading provider of education, training and childcare with three distinct operating divisions - Nurseries, International Schools and Learning Services Nord Anglia is pleased to report that its International Schools division, has reached agreement with the Incheon Free Economic Zone to develop a 1,200-place boarding school in Korea. The Korean market was targeted as a priority for development due to the high proportion of middle class parents who are prepared to commit to education and the popularity of the British system. Because of Nord Anglia's strong reputation, the Incheon authorities have offered substantial financial concessions for the group to open the school. Plans are in hand with local developers, and the school is expected to open in September 2008. In Shanghai, where the group opened its second 700-place school last year, demand is extremely strong, with the new Puxi school occupancy 35% ahead of earlier expectations. In response, Nord Anglia has, in conjunction with its development partner, accelerated its plans to expand facilities at the company's original Shanghai campus in Pudong (Sports field, swimming pool, gymnasium, school hall/theatre) with 700 new places to be made available by September 2007 taking its total capacity to 1,400. This will take the group a long way towards its overall objective to create the leading campus in the city. Overall capacity in the group's two schools in Shanghai will increase from 1,400 to over 2,100 places next year. Throughout Asia, interest in Nord Anglia's school developments is running at unprecedented levels, reflecting the group's pre-eminent position and the strength of market demand. Interest is being shown at all levels by Governments, schools and investors. In addition, the division has signed a contract for a new and enlarged school in Prague that will increase the number of pupil places from 200 to 500 in September 2007. The group's recruitment of a managing director for the division is making good progress and, in the interim period, Andrew Fitzmaurice, Nord Anglia Chief Executive, has assumed responsibility for divisional management. He commented, 'These are exciting developments that will take our pupil capacity up from 3,200 to 5,400 in 2008.' 7 March 2006 |
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