US tech company nears completion of centralized treasury

Applied Materials in California will complete its year-long project of centralizing its Asian cash management activities this coming January.

Californian manufacturer of semi-conductor equipment Applied Materials is in the last stages of setting up a global treasury centre that incorporates its Asian operations. The project which was started in February this year is about 90% accomplished and should be completed next month. Applied Materials has spent 10 months consolidating banking relationships, tightening up approval processes, improving reporting and centralizing the responsibility for the company's balance sheet in Asia.

The process was started a year ago when the company's senior treasury manager, Robin Easton, decided it was time to get more control over the company's finances in the region. His impetus came from looking at other multinational companies that have successfully centralized their Asian treasury...

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222