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

To: Proud_Infidel who wrote (48224)	6/20/2001 8:36:48 AM
From: Proud_Infidel	Read Replies (1) \| Respond to of 70976

Intel CEO Still Committed to Irish Plant Jun 20 7:31am ET DUBLIN (Reuters) - Intel, the world's largest computer chip-maker, remains committed to a $2.2 billion expansion of its Irish operations, chief executive Craig Barrett said in an interview published on Wednesday. Barrett told the Irish Times newspaper construction work on the new microprocessor plant, suspended in March, would resume "sometime in early 2002," and said "It's a question of when, it's not a question of if," the project would be completed. ""It's on our technology roadmap," he said. "It depends on what the economy does, and when we'll need it. When you're in a trough, it's hard to predict these things." In March the company said the new plant at its existing site in Leixlip, County Kildare, would start production in mid-2003. The global slowdown has hurt Intel, which last week reiterated that sales in the second quarter would be at the low end of expectations of $6.2 billion to $6.8 billion, a decline of as much as 25 percent from $8.3 billion a year earlier. On Monday Barrett said the company had put off a decision on whether to build a $3.5 billion chip plant in Israel. The Intel chief told the Irish Times Ireland, Israel and India remained hotbeds of new technology, referred to collectively by the company as its "three Is" investment strategy. Ireland's unprecedented economic boom in recent years has been fueled largely by investment from overseas high-tech companies, with Intel leading the charge in 1989. Leixlip, west of the Irish capital Dublin, is already the company's biggest plant outside the United States.