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Technology Stocks : Micron Only Forum

MU 236.48

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Nov 28 9:30 AM EST

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To: Knighty Tin who wrote (35802)	6/26/1998 9:20:00 PM
From: DJBEINO	Read Replies (1) of 53903

Hyundai postpone Scottish plant Korean industrial giant Hyundai has announced it is to postpone indefinitely work on a multi-million pound semiconductor plant in Scotland. The factory was to have employed 800 people in Dunfermline, Fife, by the end of this year. A delay in the construction of the plant was announced last year and was blamed on the economic turmoil of the "Tiger" economies of South-east Asia. Today's news - that the majority of building work will be suspended indefinitely - was said by the company to be due to excess capacity in the DRAM sector of the semiconductor industry. Hyundai also blamed significant falls in prices of memory chips. A company spokesman stressed that the Dunfermline plant will play an "important role" in the future strategy of the company. He said Hyundai was reviewing its plans for the facility in the context of more advanced chip technology and added that detailed planning and discussions would take place with relevant parties over the next few weeks. Scottish Industry Minister Brian Wilson said the announcement of a further delay was "very regrettable". But he added: "We of course understand the market factors which have made it necessary." itn.co.uk

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