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Technology Stocks : Compaq -- Ignore unavailable to you. Want to Upgrade?

To: Piotr Koziol who wrote (71874)	11/15/1999 2:10:00 AM
From: Elwood P. Dowd	Respond to of 97611

Hyundai Elec wins DRAM supply deals worth $22 bln SEOUL, Nov 15 (Reuters) - The world's largest dynamic random access memory (DRAM) maker Hyundai Electronics Industries Co of South Korea said on Monday it has won contracts worth more than $22 billion to supply DRAM chips over the next five years. Hyundai said in a statement it would supply chips to three to four large telecommunications equipment makers, naming International Business Machines Corp (NYSE:IBM - news), Compaq Computer Corp (NYSE:CPQ - news) and Gateway Inc (NYSE:GTW - news). ''The expected sales turnover of $22 billion over the next five years accounts for (deals with) three to four companies including IBM, Compaq and Gateway,'' Hyundai said. ''Including long-term contracts already in place with other companies, total sales will increase by over $15 billion,'' it said, indicating that it has secured more than $37 billion in contracts for the five-year period. The world DRAM market has been expecting a supply shortage in the next four to five years and the contracts have now provided major telecommunications equipment makers with a guarantee of stable supply, it said. For Hyundai, the contracts now enable it to secure funds necessary to investment in new product development, equipment and facilities, it said. Hyundai Electronics last month absorbed Hyundai Microelectronics Co, formerly LG Semicon Co, to create the world's largest DRAM maker in capacity. The company is a unit of the Hyundai Group [DWGR.CN]. More Quotes and News: Compaq Computer Corp (NYSE:CPQ - news) Gateway Inc (NYSE:GTW - news) International Business Machines Corp (NYSE:IBM - news) Related News Categories: US Market News