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August 2, 1987

OLIVETTI TO SPEND $150m ON OFFICE SYSTEMS DEVELOPMENT

By CBR Staff Writer

Olivetti SpA has embarked upon an ambitious $150m development program for hardware and software for the office computer market, and the Italian government is to contribute 20% of the cost or about $30m. The government was given approval to make the subventions to Italy’s flagship computer company by the EEC Commission in Brussels last week. Part of the subsidy will be provided in the form of grants and the balance as low-interest loans.

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