Lenovo to Hold Founding Ceremony on May 2 April 26, 2005 4:08pm Asia Intelligence Wire
BEIJING, April 27, SinoCast -- Lenovo Group is expected to hold its foundering ceremony on May 2, as it has accomplished legal procedures for the deal with IBM.
After the ceremony, Lenovo will become the world's third largest PC maker, only after Dell and HP, and also one of the world's top 500 enterprises. And senior officials of the company will take their seats.
Previously, the company's chairman Yang Yuanqing said at Boao Forum for Asia that the founding ceremony is scheduled for this June, and vast management framework covering Asia, Europe and the US will be formed at that time.
The reasons why the Chinese PC maker chooses May Day holiday to hold the founding ceremony are still unknown.
For now, the PC maker has passed investigation by US authorities ahead of schedule, and obtained USD 350 million from three US private equity firms, which both have greatly improved the company's competitiveness.
Therefore, a furious battle will surely take on, among Dell, HP and Lenovo.
Copyright � 2005 SinoCast LLC Source: Financial Times Information Limited -