MEMC INT'L. (WFR -NYSE) The Sleeping Giant? Message Board

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Technology Stocks : MEMC INT'L. (WFR -NYSE) The Sleeping Giant?

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To: Ian@SI who wrote (4402)	6/11/1999 8:21:00 AM
From: Zeev Hed	Read Replies (1) of 4697

Ian, I do not think that they brought in that much money, VEBA contributions was to a great extent conversion of existing debt to shares, and the public, well, with VEBA owning 72% or so, the public did not buy too much on the rights offerings. I'll have to restudy their balance sheet post the rights (it is not available right now) to see where they go, but even with 12% growth in the semis in general (which could translate to maybe 15% growth in wafers due to ASP decline partially compensated by feature reduction?), they are still a way from breakeven, which should be in the $200 to $250 MM quarterly (depending on timing of closure of Spartansburg and how fast Taiwan grows). My point was not their buying software, my point was that they used this momentus occasion to issue a news release. It gets them in the category of BB stocks issuing releases every few days to keep the the "attention span" of their "investors" up. Zeev

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