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

To: StanX Long who wrote (62410)	3/28/2002 12:32:25 AM
From: StanX Long	Read Replies (1) \| Respond to of 70976

Grace Semiconductor to Make Chips for Oki, Others Next Year By Alan Patterson 03/27 19:19 quote.bloomberg.com Shanghai, March 28 (Bloomberg) -- Grace Semiconductor Manufacturing Corp., founded by the son of Chinese President Jiang Zemin, said it will start production next year for Japan's Oki Electric Industry Co. and other companies that are halting investments in chip manufacturing. ``Oki will not build any more plants,'' Grace President Nasa Tsai said in an interview. ``They could become our largest customer.'' Grace, scheduled to start production next March, is part of China's fledgling chip-making industry. The mainland is attracting investors because its market is one of the few in the world where demand for mobile phones, personal computers and other electronic products is still growing. Grace aims to make chips for U.S. and Japanese customers that are farming out production to cut costs. Oki and U.S.-based Silicon Storage Technology Inc., which make memory chips for mobile phones, have both taken stakes in Grace and will together buy about a fifth of the Chinese company's output. The new company may become profitable by 2004, a record for new chipmakers who typically take at least four years to recoup investments, Tsai said.