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Technology Stocks : Semi-Equips - Buy when BLOOD is running in the streets! -- Ignore unavailable to you. Want to Upgrade?

To: Math Junkie who wrote (7931)	6/22/1999 11:14:00 PM
From: Ian@SI	Respond to of 10921

Some more spending from Taiwan??? Tuesday June 22, 10:45 pm Eastern Time Toshiba buys a stake in Taiwan microchip firm TAIPEI, June 23 (Reuters) - Taiwan's unlisted Worldwide Semiconductor Manufacturing Corp, an affiliate of China Development Industrial Bank , said on Wednesday it would sell four percent of its stake to Toshiba Corp of Japan for US$50 million. The alliance with Toshiba would enable Worldwide Semicon to upgrade its chipmaking technology and compete with Taiwan's leading chipmakers, Taiwan Semiconductor Manufacturing Corp and United Microelectronics Corp , a company statement said. Worldwide Semicon, a new comer in made-to-order foundry chipmaking, is a venture jointly set up by microchip maker Winbond Electronics , China Development Industrial Bank, and steel giant China Steel . Toshiba was expected to increase its microchip outsourcing to Worldwide Semicon from 2000, a statement issued by Worldwide Semicon said. In addition to the equity stake purchase, Toshiba would form a wide-range of technological cooperation efforts with Worldwide Semicon in areas of logic integrated circuits, static random access memory, or SRAM, and flash memory chips. The firms also planned to expand cooperation to mask production in the future, Worldwide Semicon's vice chairman Benny Hu said in the statement. Hu said some leading chipmakers had showed a willingness to invest in Worldwide Semicon, which would help it raise operating funds and expand production. The stake sell-off still needs to be approved by Worldwide Semicon's shareholders on June 24, the statement said. Worldwide Semicon, with a paid-in capital of T$17 billion, said it planned to have a rights issue before the end of 1999. Hu said Worldwide Semicon's planned second foundry plant would start production in the first quarter of 2000.