IBM, Great Wall Establish Joint Venture to Produce Telecommunication Components for Nokia in China.Business and High-Tech Editors BEIJING--(BUSINESS WIRE)--Aug. 22, 2000 IBM (International Business Machines Corporation, Armonk, NY, www.ibm.com) The world's largest computer company. IBM's product lines include the S/390 mainframes (zSeries), AS/400 midrange business systems (iSeries), RS/6000 workstations and servers (pSeries), Intel-based servers (xSeries) China Company Limited (IBM China) and China Great Wall Shenzhen Co., Limited (Great Wall) today announced a new manufacturing joint venture in China to provide electronic manufacturing services for Nokia joint ventures. The new company, Beijing GKI GKI General Kinetics Incorporated GKI Gabriel Knight I (computer game) GKI Global Knowledge Infrastructure Electronics Co. Ltd. (Beijing GKI), will provide advanced printed circuit board assemblies to Nokia Joint Ventures for their current and future wireless communication products and systems. Total investment in Beijing GKI is approximately US$25 million; IBM China will hold 70 percent of the equity in the company, and Great Wall will hold 30 percent. Manufacturing of the printed circuit boards will be based in a new Beijing GKI facility, which will be established in Xingwang (International) Industrial Park in the Beijing Economic-Technological Development Area (BDA BDA Battle Damage Assessment BDA Bundesvereinigung der Deutschen Arbeitgeberverbände (German: Confederation of German Employers' Associations) BDA British Dental Association BDA Blu-ray Disc Association BDA Bund Deutscher Architekten ). Beijing GKI expects to begin production in January, 2001. By having Beijing GKI's manufacturing plant in Xingwang Park, Nokia is focusing on significantly shortening the logistics chain and improving its make-to-order process capability. "This is a significant step in the development of the Xingwang concept, announced earlier this year by Nokia. Beijing GKI is the first formal commitment to invest in Xingwang Park further demonstrating Nokia's on-going commitment to encourage investment from world-class partners and successful local companies," said Petri Vainola, Vice President of Sourcing and Procurement, Nokia APAC APAC Australian Partnership for Advanced Computing APAC Agricultural Policy Analysis Center APAC Asia and Pacific APAC Asian Pacific American Coalition APAC Adapted Physical Activity Council (American Alliance for Health) (Asia Pacific). "We expect that this will typify the value-added long term partnership that both Nokia and the Chinese authorities have been encouraging in terms of strong local involvement and leading-edge technical capabilities." Beijing GKI becomes the fourth joint venture between Great Wall and IBM China and the second involving the production of electronic components. "IBM's leadership in the spectrum of electronic technology products and services continues to be recognized by world-leading mobile and wireless communications wireless communications System using radio-frequency, infrared, microwave, or other types of electromagnetic or acoustic waves in place of wires, cables, or fibre optics to transmit signals or data. providers," said Henry Chow, chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of IBM Greater China Group. "This joint venture further demonstrates IBM's commitment to expanding its presence in China." "Great Wall has gained notable experience in offering electronic products and services to the worldwide market from our long-standing relationship with IBM," said Wang Zhi, Chairman of China Great Wall Computer Group. "The establishment of this latest joint venture signifies a new phase in facilitating the development of advanced technology in China." Other IBM China and Great Wall joint ventures in China include: International Information Products (Shenzhen) Company Ltd. (personal computers manufacturing), Shenzhen GKI Electronics Co. Ltd (electronic circuit card manufacturing) and Shenzhen Hailiang Storage Products Co. Ltd. (storage products manufacturing). About IBM China IBM's business in China dates back to the 1930's when the company first installed a business machine for a hospital in Beijing. In the 1980's, IBM opened representative offices in Beijing and Shanghai, followed by the establishment of the IBM China Company Limited, a wholly-owned subsidiary of IBM World Trade Corporation, in 1992. The IBM China Research Laboratory was established in Beijing in 1995. Today, IBM China has offices in eleven cities and operates eight joint venture companies in China. About China Great Wall Shenzhen Co., Limited China Great Wall Shenzhen Co., Limited (Great Wall) is affiliated with China Great Wall Computer Group. The company's stock, "Great Wall Computer", has been listed on Shenzhen Stock Exchange Shenzhen Stock Exchange One of two major securities markets in China. since June of 1997. Great Wall is one of the biggest enterprises in China involved in developing, designing and producing computer hardware and software. Great Wall's business ranges from research & development to sale and services of computers and peripheral equipments. Its key products are PCs (Golden Great Wall PC), monitors, power supplies, electronic cards, printers, machine boxes, magnetic heads and Great Wall super capacity IC cards. About Nokia Nokia is paving the way to the mobile information society with its innovative products and solutions. Nokia is the leading mobile phone supplier and a leading supplier of mobile, fixed and IP networks and related services as well as multimedia terminals. In 1999, net sales Net Sales The amount a seller receives from the buyer after costs associated with the sale are deducted. Notes: This amount is calculated by subtracting the following items from gross sales: merchandise returned for credit, allowances for damaged or missing goods, freight totaled EUR EUR In currencies, this is the abbreviation for the Euro. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 19.8 billion (USD USD In currencies, this is the abbreviation for the U.S. Dollar. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 19.9 billion). Headquartered in Finland, Nokia is listed on the New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of (NOK NOK In currencies, this is the abbreviation for the Norwegian Krone. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. ), Helsinki, Stockholm, London, Frankfurt and Paris stock exchanges and employs more than 60,000 people. Beijing Nokia Mobile Telecommunications Ltd. (BNMT BNMT Bachelor of Nuclear Medicine Technology ) is a 50/50 joint venture between Nokia (China) Investment Company Co. Ltd. and Capital Group. Founded in 1995, BNMT is Nokia's biggest joint venture in China, manufacturing both mobile phones and cellular systems, providing complete GSM systems. BNMT will be the first to settle in the Xingwang (International) Industrial Park. |
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