Sorry to interupt the contest, but:
SEMI explores ways to aid troubled
Asian chip makers
MOUNTAIN VIEW, Calif.--A working group of chief financial
officers from semiconductor-production equipment suppliers has
been formed by a trade organization here to explore sources of
capital for long-term growth and financing in Asia's economically
troubled markets.
During Semicon Korea equipment trade conference in Seoul last
month, South Korea's big three chip makers met with their suppliers
seeking financial assistance while they waited for the won to
recover against the U.S. dollar and the country's global banking
arrangements to be finalized (see Jan. 22 story). In addition, chip
makers in other Asian countries are struggling with the fallout of the
region's monetary metldown, according to the Semiconductor
Equipment and Materials International (SEMI trade group, based in
Mountain View.
SEMI officials said the Asian financial crisis has made it difficult for
semiconductor manufacturers in the region to sustain the liquidity
necessary to continue planned investments for facilities and new
technology. SEMI's working group will investigate ways in which
equipment and materials suppliers can address the crisis and help
semiconductor-realted industries in Asia.
The task force will be chaired by Robert Smith, chief financial
officer, Novellus Systems Inc. of San Jose.
"The situation in Asia is of great concern to SEMI and to all of our
members," said Stan Myers, president of SEMI. "The Asian
markets are an integral and critical part of the global economy, and
we believe that the strengthening of the Asian economy will lead to
the stabilization of currencies, improve overall financial health and
ensure open markets. As an international association, SEMI
recognizes the need to address these issues on a global level and
that the success of our industry is heavily dependent on the health of
our members and their customers as global trading partners."
Last week, Myers met with key government leaders in Washington
to discuss the ongoing situation in Asia. During the meeting, he
reaffirmed SEMI's support of both the International Monetary Fund
(IMF) efforts to revive the health of the Asian economies and U.S.
efforts to help stabilize the Asian currency markets. Use of U.S.
funds to aid Asian chip makers--in particular Korean DRAM
suppliers--has been questioned by some U.S. semiconductor
manufacturers. |
