ajaidev
01-08-2010, 03:10 AM
" BEIJING (Dow Jones)--International Business Machines Corp. (IBM) said Friday it will launch a new financing business in China with chip maker Advanced Micro Devices Inc. (AMD) as its first client.
IBM will provide accounts-receivable lending, also called factoring, to AMD, providing them with upfront payment while they wait up to four months to receive payment from a customer.
IBM spokeswoman Harriet Ip said the deal would generate "hundreds of millions of dollars" of business for IBM this year. IBM also anticipates adding new customers for the financing unit. .."
http://online.wsj.com/article/BT-CO-20100108-700011.html?mod=WSJ_latestheadlines
IBM will provide accounts-receivable lending, also called factoring, to AMD, providing them with upfront payment while they wait up to four months to receive payment from a customer.
IBM spokeswoman Harriet Ip said the deal would generate "hundreds of millions of dollars" of business for IBM this year. IBM also anticipates adding new customers for the financing unit. .."
http://online.wsj.com/article/BT-CO-20100108-700011.html?mod=WSJ_latestheadlines