Wang Laboratories Inc, revealing that its current business plan envisages losses for the first half of its fiscal 1990 to June 30, said it is likely to incur additional restructuring charges as it continues to streamline operations. First quarter turnover for the period to September 30 is likely to be 10% to 13% below last […]
Wang Laboratories Inc, revealing that its current business plan envisages losses for the first half of its fiscal 1990 to June 30, said it is likely to incur additional restructuring charges as it continues to streamline operations. First quarter turnover for the period to September 30 is likely to be 10% to 13% below last year’s first quarter figure of $723.1m, bu the company has put its finances on a firmer footing by signing an agreement with Manufacturers Hanover Corp’s CIT Group Business Credit Inc unit, under which Wang may borrow up to $175m. The facility consists of $120m in revolving credit notes secured by domestic accounts receivable and $55m of term notes secured by domestic property, and is available for three years.
