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Politics : Formerly About Applied Materials

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To: StanX Long who wrote (55624)	11/15/2001 1:42:21 AM
From: StanX Long	Read Replies (1) of 70976

Thursday November 15, 1:37 PM Hitachi sets up online procurement system sg.news.yahoo.com TOKYO (Reuters) - Hitachi Ltd, Japan's biggest electronics maker, said on Thursday it had set up an online procurement system with other Japanese companies that will help it achieve a 20-percent cut in procurement costs by next year. Hitachi <6501> said the programme would shave Hitachi's group-wide procurement costs of three trillion yen ($24.69 billion) by 20 percent around the end of March 2003, as previously announced. The move comes as Japan's chip and electronics conglomerates rush to slash costs -- and cut their payrolls -- to combat the global info-tech downturn.

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