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

To: StanX Long who wrote (61610)	3/7/2002 12:08:25 AM
From: StanX Long	Read Replies (1) \| Respond to of 70976

Chi Mei Unit to Raise $684 Million for Taiwan Flat-Panel Plant By Alan Patterson quote.bloomberg.com Tainan, Taiwan, March 7 (Bloomberg) -- Chi Mei Optoelectronics said it plans to raise $684 million to fund a new plant for flat-panel displays after prices for the screens rebounded since the fourth quarter. The company will spend NT$40 billion ($1.1 billion) to build the plant, construction of which starts today, spokeswoman Winnie Sun said, confirming a DigiTimes newspaper report. About 60 percent of the cost will come from bank loans or bond sales, she said. Chi Mei, one of Taiwan's largest makers of the screens, joins peers such as AU Optronics Corp. and Sharp Corp. in expanding capacity as demand for personal computers, which increasingly use flat panels, starts to recover. The company, which last year acquired a flat-panel display plant in Japan from International Business Machines Corp., plans to start production at the new plant next year and may build another NT$40 billion plant that would start operations in 2005, Sun said.