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Technology Stocks : Micron Only Forum

MU 276.58

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Dec 22 3:59 PM EST

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To: Skeeter Bug who wrote (36911)	8/5/1998 1:40:00 AM
From: DJBEINO	Read Replies (1) of 53903

Hyundai Elec says Scottish JV talks with Intel off SEOUL, Aug 5 (Reuters) - Hyundai Electronics Industries Co Ltd (KOREA:00660), a unit of South Korea's Hyundai Group 1/8HYGR.CN 3/8, said on Wednesday talks with U.S. chip producer Intel Corp (NASDAQ:INTC) on a $1.15 billion joint venture in Scotland had broken off. "Hyundai and Intel failed to reach an agreement on the joint venture," said Lee Kwang-suk, a spokesman at Hyundai Electronics. "We plan no further talks with Intel about the Scotland project, but cooperation in other areas is possible," he said. The British daily The Times said in Wednesday's edition Intel was in talks with Hyundai Group about forming a joint venture to use the Korean company's semiconductor plant in Scotland. Hyundai suspended construction of a semiconductor plant in Scotland in February in the aftermath of a financial crisis which forced South Korea to accept a record $58.35 billion International Monetary Fund-led bailout last December. Spokesman Lee said Hyundai was talking with some other foreign companies for a joint venture, but refused to give further details. The Times said Intel and Hyundai were considering producing memory chips 16 times more powerful than those made by Germany's Siemens AG (FSE:SIEG) at its northeast England plant which closed last week. The newspaper said the Hyundai plant was one of the few available with the capacity to produce 256 megabyte chips.

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