Beijing, Dec. 15 -- Diebold, Incorporated (NYSE: DBD) has been awarded an $11 million contract by International Commercial Bank of China (ICBC) to provide nearly 450 automated teller machines (ATMs) for ICBC's on-line network of more than 16 provinces in China.
This represents Diebold's largest contract in China since the company established its own distribution channel at the beginning of the year. Delivery and installation of the ATMs is expected to begin in about a month. "We are very pleased to be awarded the contract by ICBC, and we are committed to providing our customers with world-class support and service to enable the delivery of convenient banking services to consumers throughout China," said James L.M. Chen, Diebold vice president and managing director, Asia/Pacific. ICBC has a nationwide network of more than 36,000 branch outlets.
Through this year's expansion, ICBC will exceed its plan to operate an ATM network of more than 10,000 ATMs at the turn of century. ICBC is the largest retail commercial bank in China and ranks among the top 10 banks in the world in terms of assets.
Diebold, Incorporated is a global leader in providing integrated self- service delivery systems and services. Founded in 1859, Diebold employs more than 9,000 associates with representation in more than 75 countries worldwide and headquarters in Canton, Ohio, USA. Diebold reported revenue of US$1.2 billion in 1998 and is publicly traded on the New York Stock Exchange under the symbol 'DBD.'