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Great Wall unit to cooperate with IBM
( 2002-02-22 09:24 ) (7 )

China's Great Wall Technology Co said on Thursday its affiliated company, Shenzhen ExcelStor Technology Co Ltd, would cooperate with International Business Machines Corp to make hard disk drives.

ExcelStor would sign a deal with IBM in the southern Chinese city of Shenzhen next Thursday, February 28, Great Wall spokeswoman Chen Yanming said.

She declined to give any more details.

IBM was not immediately available for comment.

Great Wall, a Hong Kong-listed Chinese computer products maker, said last December it was in talks with ExcelStor Group Ltd to set up a US$30 million hard disk drive research and development centre in the United States.

ExcelStor is 20 percent-owned by computer parts maker Shenzhen Kaifa Technology, which is in turn 55.96 percent-owned by Great Wall.

Great Wall's shares closed up 3.82 percent at HK$1.63 on Thursday.