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Technology Stocks : Seagate Technology

STX 285.27

+0.9%

Dec 24 4:00 PM EST

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To: stock bull who wrote (4311)	12/10/1997 4:09:00 PM
From: fifiluver	Read Replies (3) of 7841

FYI 6PM Irish Time Today. They called in all the employees of the plant in Clonmel in Republic of Ireland to give notice that they are shutting down early 1998 with all 1400 jobs to go. Company is said to have cited over-capacity in the industry. They will have to repay approx $18million in gvt grants. Seems unlikely that they will go ahead with second project which was previously delayed.

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