IBM will invest $440 million to expand its disk drive and component manufacturing facilities in Asia, Europe and North America, company officials said today.
Growing customer demand for data storage products spurred the investment, which brings IBM's spending on its storage business so far in 1996 to a total of $1.32 billion, officials said.
IBM's Storage Systems Division now has offices in Germany, Hungary, Singapore, Japan, China, Mexico and the United States. A portion of the new investment is earmarked for a new disk drive manufacturing plant in Thailand, with construction scheduled to begin early next year and to be completed by the first quarter of 1998.
Another portion of the investment is slated for improvements to an IBM disk drive plant in San Jose, Calif., company officials said.
IBM is based in Armonk, N.Y.