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

To: StanX Long who wrote (61001)	2/27/2002 2:14:04 AM
From: StanX Long	Read Replies (1) \| Respond to of 70976

Hynix-Micron talks seen on track despite closures Reuters, 02.27.02, 1:50 AM ET forbes.com SEOUL, Feb 27 (Reuters) - South Korea's Hynix Semiconductor said on Wednesday it shut two production lines making non-memory chips late last year in a move analysts expected to have little impact on asset sale talks with U.S. rival Micron Technology Inc. The troubled Korean chipmaker, which is in talks to sell the bulk of its business for an estimated $4 billion to Micron of the United States, said it had no plans to reopen the lines and had increased production elsewhere to compensate. News of the move, coupled with rising chip prices, helped Hynix <00660.KS> shares rebound from three-month lows hit on Monday. The stock closed up 13 percent at 1,670 won, outpacing a 2.6 percent rise in the main index <.KS11>. The shares remain down 32 percent this month on concerns the Micron deal could falter. "Hynix may have decided to shut down the lines as they are too outdated with virtually no investment made last year for facility upgrade due to its severe liquidity crunch," said Jon B.S., an analyst at Daewoo Securities.