Sticking together. (Packard Bell to merge with Groupe Bull; Grundig management; IBM Germany to restructure and other news about technology companies)(Brief Article)
Economist (US), The, February, 1996
Packard Ball, America's home-computer leader, will merge with Zenith Data Systems, Groupe Bull's personal-computer unit, in a deal arranged by NEC of Japan, which owns part of both firms. the merger will extract the French firm from its loss-making PC business, perhaps returning the residue to profit. It also aims to help cash-strapped Packard Bell expand into the more profitable business market.
After years of restructuring, Holland's Philips Electronics turned its attention to Grundig, saying that from next year it would no longer automatically prop up its German consumer-electronics unit. Around 3,000 jobs will go, a quarter of the workforce, and most production will be moved from Germany. Philips will take a Deutsche Mark 270 million ($183 million) exceptional...
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