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Technology Stocks : Intel Corporation (INTC) -- Ignore unavailable to you. Want to Upgrade?

To: Elmer who wrote (118692)	11/21/2000 2:32:28 AM
From: The Duke of URL©	Respond to of 186894

Intel's new Kiryat Gat plant expansion (But they can't vote): Negotiations Reach 'Significant Breakthrough' for Israeli Intel Plant By TheMarker.com Staff 11/20/00 12:00 PM ET A significant breakthrough occurred during negotiations between Intel (INTC:Nasdaq - news) and various Israeli government officials about setting up a new plant in Israel and expanding the existing plant at a cost of $3.5 billion, say finance ministry officials. The negotiations dealt with various possible support plans for Intel. The sides agreed that details of the government's support will be hammered out next week by professional teams. Ha'aretz reports that Intel's delegation was led by the company's vice president of finance, Robert Perlman, and also included Intel Israel chiefs. The delegation met Sunday with Finance Minister Avraham Shochat and other senior officials. Differences between the two groups centered around government support for Intel's new Kiryat Gat plant. Intel wanted an actual subsidy, but the Israeli government offered tax relief instead. Despite the differences, both sides reiterated their interest in setting up the plant and expressed satisfaction with the progress. Senior government officials said that Shochat assigns much importance to Intel's willingness to invest in Israel in the current situation. "This is an important message for foreign investors," the officials said, "because if Intel believes there is room for investment in Israel, other investors are likely to follow suit."