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Technology Stocks : Nortel Networks (NT)

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To: Bosco who wrote (3537)	10/23/1999 8:53:00 AM
From: uel_Dave	Read Replies (1) of 14638

Nortel eyes site for chip plant New facility would employ more than 2,000 workers in Kanata Bert Hill and James Bagnall The Ottawa Citizen ottawacitizen.com Nortel Networks is shopping for land for a major chip design and manufacturing facility in the region. Several real estate firms have confirmed that Nortel is considering building a 300,000-square-foot plant to make sophisticated chips used in telecommunications products and employ more than 2,000 people. The facility would probably take over semi-conductor production from Nortel's 1,300-employee manufacturing operation on Corkstown Road at Moodie Drive in Nepean. It also makes optoelectronic and microwave communication products. Kanata Mayor Merle Nicholds said through a spokesman that she was not in a position to confirm the reports. Nortel spokesman Paul Hornbeck said the company has not made any decisions. The real estate firms said Nortel is looking at several sites, including land east of the Corel Centre near Palladium Drive. At least four major high-technology companies are looking for land to build about 750,000 square feet of space, including Nokia and IBM. Entrust Technologies will build a $25-million building on Hines Road in Kanata to house 500 employees by late next year. Demand and prices are soaring for high-end semiconductor products. Suppliers such as Nortel and Lucent Technologies are trying to capture a bigger share of the market for chips that control sophisticated new products. Such chip-making operations are smaller than the giant memory chips plants that the region has been pursuing. But networking chips generate much higher profit margins and are less likely to be hit by the boom-and-bust cycles of the memory chip business.

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