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Politics : Formerly About Applied Materials

AMAT 281.58

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Jan 8 3:59 PM EST

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To: Math Junkie who wrote (26529)	11/19/1998 1:50:00 PM
From: Jacob Snyder	of 70976

Samsung Earmarks $400 Million For North American Investment Dow Jones Newswires November 19, 1998 SEOUL, South Korea -- Two key units of Samsung Group, the country's second largest conglomerate, said Thursday they plan to invest $400 million in their American units by next year. Under the plan, Samsung Electronics Co. will invest $250 million in its plant in Austin, Texas, by the first half of next year. The funds will help upgrade its facilities and boost its monthly 64-megabit dynamic random access multiple chip production to 4 million from 3 million. Meanwhile, sister company Samsung Display Devices plans to invest $150 million in its Mexico plant by the end of 1999 through its Mexican unit Samsung Display Mexicana. The investment in Mexico is aimed at strengthening production of large color picture tubes amid growing demand for large digital televisions. After the expansion, Samsung Display's annual color picture tube production capacity at the Tijuana plant will rise by 1.8 million to 6.5 million. "North America is a priority region for the company," said Byung Kwan Bae, chief executive officer of Samsung Electronics America. "The manufacturing facilities in Tijuana and Austin are the cornerstone of Samsung's North American expansion."

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