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Politics : Formerly About Applied Materials

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To: StanX Long who wrote (63926)	5/21/2002 4:39:05 AM
From: StanX Long	Read Replies (1) of 70976

Singapore's Flextronics offers to buy NatSteel unit Tuesday May 21, 4:53 AM sg.news.yahoo.com LOS ANGELES (Reuters) - Contract manufacturer Flextronics International Ltd said on Monday it has offered to buy a unit of NatSteel Ltd for $364 million in cash in an effort to expand its manufacturing operations in China. Singapore-based Flextronics said it would pay S$3.23 per share for NatSteel Broadway Ltd for a total of about S$653 million, or $364 million at Monday's closing exchange rate. The deal, expected to close by August, would give Flextronics more than two million square feet in capacity in China and a smaller facility in Hungary. In the fiscal year ended December 2001, NatSteel Broadway had revenues of $188 million, Flextronics said.

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