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Article: Clevo inks coop agreement with ICBC for financing in China.(Industrial and Commercial Bank of China)(Brief article)
- Article from:
- The Taiwan Economic News
- Article date:
- June 11, 2009
CopyrightCOPYRIGHT 2009 China Economic News Services. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Taipei, June 11, 2009 (CENS)--The Taiwan-based Clevo Co., a globally-known ODM (original design manufacturing) of notebook PCs, has inked a cooperation agreement with the Industrial and Commercial Bank of China (ICBC) to borrow more than NT$15 billion (US$455.92 million at US$1: NT$32.9) to explore China's consumer market in the next three years.
Noteworthy is that Clevo is the first Taiwanese supplier of IT products to obtain a sizable loan from a Chinese bank.
Clevo indicated that with the ICBC as the financial backer, it is going to increase the number of its reinvested retail store, Buynow, to 36 in China in the next three years. So far, the firm has ...