Data storage company EMC plans to invest US$500m in China
(AP)
Updated: 2006-06-23 14:51
EMC Corp., a U.S.-based data storage system company, said Friday it plans to
invest US$500 million in China by 2010, extending its push into Asia.
EMC's investments in China include plans for a research and development
center in Shanghai, the company's chief executive officer Joe Tucci said in a
presentation.
Earlier this week, EMC said it will invest an additional US$250 million in
India, doubling its total investment to US$500 million by 2010.
Figures for EMC's total investments in China so far were not immediately
available.
Hopkinton, Massachussetts-based EMC makes systems that store and manage large
volumes of data.
EMC's shares fell 1.72 percent to US$11.44 Thursday on the New York Stock
Exchange.
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