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

To: StanX Long who wrote (62051)	3/14/2002 12:54:15 AM
From: StanX Long	Read Replies (1) \| Respond to of 70976

Now really good news, read bold Upbeat TSMC revises spending -- South China Morning Post, 3/14/2002 e-insite.net A better than expected upturn in the chip industry has prompted world No 1 foundry Taiwan Semiconductor Manufacturing Co (TSMC) to revise upward its forecast for capital expenditure this year. The company had previously forecast a cut of 20 per cent to 25 per cent in spending on chip equipment compared with last year's US$ 2.2 billion. However, chief financial officer Harvey Chang, at the Merrill Lynch Asia Pacific Technology Conference in Taipei, said the increase in demand for the company's services had forced TSMC to revise its forecast. "Before we did our last release, we talked about capital expenditure (saying) this year (being) significantly down on 2001 and at that time I defined significantly as 30 per cent to 35 per cent below. Later on, we changed our definition to maybe 20 per cent to 25 per cent below," Mr Chang said. "And I think now we will have to take the 'significant' away. I am not prepared to give you a number yet, but certainly I think that would be a very good indication that we are looking very closely at our capital expenditure numbers because of the changing demand." TSMC's new estimate would put capital expenditure somewhere between last year's US$ 2.2 billion and the previous forecast of about US$ 1.7 billion. Main rival United Microelectronics Corp (UMC) said it had no plans to alter its capital expenditure forecast.