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Politics : Formerly About Applied Materials

AMAT 261.81

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Dec 26 3:59 PM EST

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To: advocatedevil who wrote (59107)	1/18/2002 8:52:14 PM
From: StanX Long	Read Replies (2) of 70976

Taiwan Semi reiterates plans to cut capital spending 1/18/2002 10:46:00 AM NEW YORK, Jan 18 (Reuters) - Taiwan Semiconductor Manufacturing Co. (2330) , the world's top contract maker of semiconductors, on Friday reiterated that it plans sharp capital spending cuts in 2002 but remained mum on specifics. cbs.marketwatch.com The company, which last year invested aggressively to modernize its factories even as most other chip makers scaled back amid the worst industry downturn in decades, warned in October at its third-quarter earnings report that it would cut back in 2002. TSMC spokesman J. H. Tzeng said on Friday his company planned to disclose the extent to which it would scale back spending on upgraded equipment during its report on fourth-quarter results scheduled for Jan. 25. Semiconductor investors were jittery Friday, pushing down chip stocks, but one U.S. analyst said the market was already aware of Taiwan Semiconductor's plans for capital spending cuts. "That's not a new idea," said Edward White, a chip equipment analyst with Lehman Bros. in New York. "TSMC has been looking at pretty sharp cuts for a while now," he said.

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