Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: StanX Long who wrote (47463)	5/31/2001 9:29:42 AM
From: kdavy	Respond to of 70976

STMicroelectronics Implements Additional Cost Reduction Initiatives in Response to Difficult Market Conditions GENEVA(BUSINESS WIRE)May 31, 2001 Targets capital investment of $1.5B for 2001 and transfers Ottawa manufacturing operations STMicroelectronics (NYSE:STM) announced that it is limiting its 2001 capital investments to $1.5 Billion and transferring its Ottawa frontend waferfabrication production to its other manufacturing facilities around the world. Capital expenditures, which were earlier forecast to be approximately $1.9B, have been reduced in response to the continuing slowdown in the semiconductor market, which has left the industry with excess manufacturing capacity, particularly in older technologies. ST's revised capital expenditure budget continues to assure the Company's progress on its strategic projects in advanced submicron production.