Chinese Firm Cashes In on USD844 Million Supply Deal to Mexico's Biggest Financial Institution
Tang Shihua
DATE:  Aug 28 2018
/ SOURCE:  Yicai
Chinese Firm Cashes In on USD844 Million Supply Deal to Mexico's Biggest Financial Institution Chinese Firm Cashes In on USD844 Million Supply Deal to Mexico's Biggest Financial Institution

(Yicai Global) Aug. 28 -- Chinese automated teller machine maker GRG Banking Equipment will supply self-service equipment to BBVA Bancomer, Mexico's largest financial institution, under a deal worth some USD844 million.

GRG's Mexican subsidiary has agreed on a contract for the purchase, sales and maintenance of the equipment with the institution, the Guangzhou-based firm said in a statement yesterday.

BBVA Bancomer will purchase ATMs and two other types of financial self-service equipment as well as after-sales service from GRG Mexico.

GRG will be responsible for the import of equipment, installation, logistics and other delivery work, all of which will be completed this year. The company will also supply spare parts, maintenance and other technical support for the bank's branches throughout Mexico within 24 months of delivery.

The orders represent an important breakthrough for the equipment supplier in the Mexican market. It will enhance the firm's presence and reputation in the Americas and even the global market to create more opportunities for business expansion in more countries in the future.

Editor: William Clegg

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Keywords:   Purchase Agreement,BBVA BANCOMER,Mexico,GRG Banking