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February 28, 1994

IBM FRANCE WORRIES THAT WEAK EXPORTS WILL DRAG IT DOWN AGAIN THIS YEAR

By CBR Staff Writer

IBM France SA says it expects turnover this year to be little changed from 1993, chairman Claude Andrezza said yesterday. For IBM France, with CGI, we will have about 2% growth, excluding exports, he said, but exports continue to suffer from a price war which is undermining the positive effect of a rise in demand, he added – IBM France was once the kingpin in Europe because it made all the biggest mainframes, but now that mainframes have gone so emphatically ex-growth, its position is decidedly unenviable vis-a-vis its siblings. IBM France’s turnover fell 15.7% in 1993 to the equivalent of $5,237m; domestic sales rose 2.2% to $3,424m, but exports plunged by 36.7% to $1,810m.

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