The University of Rhode Island's International Engineering program is very simmilar to the program that you have described.
This program combines engineering and either German, French or Spanish undergraduate degrees. It is a five year program with one year of study and internship abroad. Forty of the students in this program live together in a fraternity house on campus, shareing classes and projects together.
The goal of this program is to combine the language and engineering degrees to produce students with capabilities of competing for engineering jobs all over the globe.
Many huge international companies support this program with funding and internship positions for the students while abroad. These companies also look to IEP graduates first when filling positions in the international business and engineering community.
http://www.uri.edu/iep is the program website
Best of luck to everyone!!
Robert Zeuge