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Technology Stocks : MEMC INT'L. (WFR -NYSE) The Sleeping Giant?
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To: Scotsman who wrote (3447)6/8/1998 2:21:00 AM
From: Carl R.  Read Replies (1) of 4697
 
I thought I'd browse the Yahoo board and see what the yahoos over there had to say. First of all, there were lot's of comments containing negative views of MEMC's quality that allegedly came from others in the semi industry, and from unhappy former employees. We have seen a few similar postings over here concerning MEMC quality as well, over the years. Anyway a new wrinkle is that apparently in an effort to limit costs the company has eliminated their Quality Improvement program which had people from all their plants getting together regularly to discuss ideas for improving quality, and they are going to try to find a less costly way of improving quality.

As of last march there were a large number of posts from unhappy employees. These seem to be gone and the remaining posters who claim to be employees say that the situation is getting better. This may be related to the voluntary termination package that was offered in that the unhappy people left. Apparently the average person accepting the package had 27 years of experience, so they did lose some experienced employees. Whether this will help or hurt them remains to be seen.

Apparently MEMC is now qualified as a supplier for epitaxial wafers to Intel. According to "quartermiler1320" on May 17:
"FYI, as far as Intel is concerned, MEMC has met Intels qualifications on epitaxial wafers and is very close to meeting specs on two other qualification wafer samples. MEMC has been given a projected order schedule through 2001, which showed volume increasing rapidly between now and then(so far all speculative, pending flawless product and on-time shipping,yadda, yadda)."

Again on May17 from "kane666_1998":
"Concerning Intel and MEMC. Memc has recently qualified with Intel for and Epitaxial order. As Far as not meeting there expectations Noone has every qualified with Intel on the first try. It does seem a shame that several years ago MEMC did a majority of Intels work But they were very selelctive in want they would accept and since at the time the were a very small part of MEMC's work load someone decided that they were unimportant and dropped them....."

And on May 31, from "Maint_man7991"
"Also of note is the fact that APD Crystal and APD Wafering are begining to pick up. We are now qualified to ship to Intel fabs directly."

On the whole I prefer the discussion over here, but there were a few things we missed. I presume that one reason that the stock has continued to slide in the last few months is that former employees who took the early retirement offer have probably reduced holdings of company stock.

Carl
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