IBM and the Israeli government signed last week an additional agreement for industrial cooperation. The new agreement follows the highly successful 1996 agreement.
By the end of 2007 IBM had realized and implemented buy-back purchases worth $1.1 billion over the obligations it was committed in its supplier development program.
Industrial Cooperation Authority ( ICA ) Director-General Bina Bar-On said following the signing ceremony that: “IBM is an excellent example of successful and ongoing industrial cooperation yielding long-term fruits for all parties.”
Bar-On added that “IBM is one of the outstanding companies in fulfilling buy-back commitments. By the end of 2007 IBM had realized and implemented buy-back purchases worth $1.1 billion over the obligations it was committed in its supplier development program.”
Ms. Bar-On noted that IBM’s ongoing readiness to make additional investments is proof of its successful investment and buy-back model in Israel representing an excellent example to be copied by other economic companies and organizations.
Zvi Leshem, ICA’s executive who is charged with overseeing Intel’s investments and buy-back agreements in Israel remarks that IBM’s new buy-back commitment proves that IBM sees the enormous potential embedded in Israeli industry and close cooperation with it.