** Samsung ups the Ante Again ** If I recall correctly, last time Samsung announced revised cap ex plans in early May, they were looking at $1.8B. Now $4.5B? Holy cow!!:
Samsung Electronics Set to Invest Record $4.5 Bln This Year
Seoul, June 2 (Bloomberg) -- Samsung Electronics Co., the
world's largest memory chip manufacturer, will increase its
investment plan for 1999 to 5.3 trillion won ($4.5 billion), up
30 percent from the original target disclosed at the beginning of
the year, the Korea Economic Daily reported, citing an unnamed
senior Samsung official. The 5.3 trillion won is the biggest
ever annual investment by a single Korean company. With proceeds
from selling new shares this month, Samsung plans to spend 3.7
trillion won on plants and equipment for 256 Mega-bit dynamic
random access memory chips and liquid crystal display devices.
The remaining 1.6 trillion won will be spent on research and
development, the report said.
Samsung Electronics invested 4.3 trillion won on plant and
equipment for memory chips in 1996, marking the biggest single
annual investment so far.
(Korea Economic Daily, 6/2, p.1)
-0- (STR) Jun/02/1999 8:15
EOS (STR) Jun/01/99 19:15 85
Jun/01/ 99 19:19 |
