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Technology Stocks : Amkor Technology Inc (AMKR)
AMKR 50.96+0.5%Jan 28 3:59 PM EST
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To: Artslaw who wrote (942)5/15/2001 1:02:53 PM
From: Jim Oravetz  Read Replies (1) of 1056
 
Taiwan Semicon Mfg Bd Approves Packaging JV Stake Sale
Dow Jones Newswires

TAIPEI -- Taiwan Semiconductor Manufacturing Co. (TSM) said Tuesday its board has given the go-ahead for the chip foundry to sell its stake in a chip packaging joint venture to Amkor Technology Inc. (AMKR).

TSMC will sell the 50 million shares in Taiwan Semiconductor Technology Corp. for NT$115 million in cash and 505,050 shares in Nasdaq-listed Amkor.

The world's largest pure chip foundry will also receive an additional NT$86.5 million in either cash or shares 12 months after the close of the transaction if TSTC meets its 2001 revenue target.

In addition, the board gave approval for TSMC to invest Y180 million in TSMC Japan to develop its market share and provide technical support to customers there.

Meanwhile, the company's shareholders approved a stock dividend of NT$4.00 per common share on its 2000 earnings.

TSMC Chairman Morris Chang also repeated recent comments that he expects the third and fourth quarters of the year to be better than the second quarter.

When asked about the possibility of setting up manufacturing operations in mainland China, Chang said he felt the conditions were not yet right.
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