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

To: StanX Long who wrote (63615)	5/10/2002 12:38:03 AM
From: StanX Long	Read Replies (1) \| Respond to of 70976

Hynix board tips hand on future of troubled chip company Hynix board issues statement on future of company EBN (05/08/02 23:45 p.m. EST) siliconstrategies.com The Board of Directors of Hynix Semiconductor Inc. on Thursday announced that "they have agreed to follow-up measures proposed by the Creditor Committee on May 3. "The follow-up measures require that Hynix's Restructuring Committee review a restructuring plan, to be proposed by an outside consultant. Such outside consultant and its scope of work will be decided by the major creditor banks in consultation with Hynix. "In addition, the [board] agreed that any solutions put forth by the Restructuring Committee must first be approved by the Board of Directors and the Company's shareholders," the statement concluded. Prior to the meeting, which was held on Thursday Korean time, informed sources said the board would vote on a proposal by its creditors to split up the company into as many as three different units to be sold off separately.