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Diebold wins contract to install 450 ATMs for Chinese bank
SHANGHAI -- Diebold has received an $11 million order from the Industrial and Commercial Bank of China for 450 ATMs to be installed at 16 provinces throughout the country, according to the official China Daily. ICBC's existing ATM network already includes 10,000 locations, the report quoted bank officials as saying. China's banks are eager to improve their services because trade agreements struck recently with major World Trade Organization members mean foreign banks will be able to conduct local currency business with Chinese companies within two years after its entry. This access will be extended to the retail market after five years.
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