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Western Digital Finalizes IBM Contract

June 16, 1998|P.J. Huffstutter

Western Digital Corp. said Monday that it finalized its deal with IBM Corp. to build new disk drives for personal computers. The deal, which will allow the Irvine-based drive maker to get a jump on emerging technologies and manufacturing lead-in time, was first announced in early May. Financial terms were not disclosed.

The deal is expected to help bolster Western Digital's position in an unsteady industry beset by falling sales and product surpluses for almost a year. Western Digital's stock price was unchanged Monday, closing at $11 a share on the New York Stock Exchange.

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