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Strategies & Market Trends : Stocks Crossing The 13 Week Moving Average <$10.01

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To: James Strauss who wrote (12428)	6/13/2003 10:41:57 AM
From: Bucky Katt	Read Replies (1) of 13094

And the US job loss beat goes on> Thomson to cut U.S. tube lines Shares plunge in Paris on outlook, China is the focus By Emily Church, CBS.MarketWatch.com LONDON (CBS.MW) - Shares of French electronics maker Thomson SA dropped as much as 13 percent in Paris on Friday after the company disclosed plans to cut sharply back on television tube-making in the U.S. as it shifts its focus to China. Thomson TMS warned the losses in its U.S. components business, which is losing market share to Chinese competitors, would impact profit for the whole company this year. Thomson said it planned to close two of its four tube lines in Marion, Ind. It currently operates two lines in Mexico as well. The company further said it won't invest to renew a glass line at its Circleville plant. "The business environment in the U.S. for TV manufacturing has deteriorated in 2002 and notably 2003 with significant market share losses among local producers to competitive imports," Thomson said in a statement. "Demand and prices for TV tubes in the U.S. have declined sharply," it added. Thomson said its U.S tubes and glass manufacturing operations are unprofitable.

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