Market Commentary and Intraday News
IBM wins $1 billion contract with Cemex
324 days ago
(AP:ARMONK, N.Y.) IBM Corp. said Monday that it had won a 10-year, $1 billion business consultant services contract with building materials supplier Cemex SAB de CV.
Mexico's Cemex expects the agreement will help it drive sustainable improvements in profitability, starting with efficiencies of close to $1 billion during the life of the contract.
It is expected to help Cemex better serve customers and maintain cost efficiencies after the contract is complete.
The contract includes services related to finance and accounting, human resources, information technology infrastructure, application development and maintenance.
IBM shares rose 12 cents at $196.51 in afternoon trading while Cemex U.S. shares fell 20 cents, or 2.7 percent, at $7.25.
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