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Technology Stocks : Amkor Technology Inc (AMKR) -- Ignore unavailable to you. Want to Upgrade?

To: Jim Oravetz who wrote (950)	8/16/2001 1:14:43 PM
From: Jim Oravetz	Read Replies (2) \| Respond to of 1056

WASHINGTON -- Amkor Technology Inc. (AMKR) said it has significantly cut its capital spending plans for this year and will spend $150 million because of current business conditions. Amkor's capital spending in 2000 totaled $480 million. According to Amkor's quarterly report filed late Tuesday with the Securities and Exchange Commission, the capital expenditures for 2001, excluding acquisitions, are less than what the company had estimated: about $175 million. The company had cut its capital expenditures this year to $175 million from $250 million in April. Amkor said its capital expenditures amounted to $112.7 million during the six months ended June 30. The company said capital expenditures this year will primarily be used to support the development of its Flip Chip, System-in-Package and high-end BGA capabilities. Separately, Amkor said that as a result of the continued weakness in the semiconductor industry, it amended its credit line to relax certain financial covenants. Amkor, based in Westchester, Pa., provides semiconductor packaging and test services.