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IBM to JV with Great Wall to manufacture servers
www.chinanews.cn 2004-12-10 15:28:13
Chinanews, Dec 9 - Just after selling its PC business to Lenovo, IBM will
be announcing in a few days that it is setting up a joint venture company
with Great Wall in order to enter the highly profitable server
manufacturing industry.
According to news sources, Great Wall and IBM have agreed to set up the
joint venture company Great Wall International Information Technology Co.
Ltd (I-ITC), which will be primarily involved in producing servers and
ancillary products. Great Wall and IBM will work hand in hand to
establish the new JV as one of the strategic production bases of IBM��s
integrated global supply chain.
In conjunction with IBM��s sale of its PC business, Great Wall Computer
will be transferring 20% of the shares in the joint venture factory to
IBM.
Great Wall Computer issued an announcement today that it planned to
transfer its 20% shares in Changcheng International Information Product
Co., Ltd. to IBM for 44 million US dollars. The two parties are in the
midst of drafting the formal agreement and would be executing it shortly.
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