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Technology Stocks : Semi Equipment Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Cary Salsberg who wrote (7221)	11/27/2002 9:39:43 AM
From: Proud_Infidel	Read Replies (1) \| Respond to of 95526

Cary, A far cry from shorting was not my point. You said a few posts back that when investing, "we don't need a moral dimension to consider." Your most recent post contradicts this statement. Brian

To: Cary Salsberg who wrote (7221)	11/27/2002 9:41:08 AM
From: Sam Citron	Respond to of 95526

ASML Plans to Close Operations for Two Weeks to Cut Costs Wednesday November 27, 8:02 am ET Dow Jones Newswires AMSTERDAM -- ASML Holding NV is planning to close its offices and operations world-wide during the last week of December and the first week of January as part of a new drive to save money, spokeswoman Beth Kitchener told Dow Jones Newswires. ADVERTISEMENT The Dutch semiconductor-equipment maker is in talks with labor unions on a number of cost-saving steps, which also include lowering year-end bonuses for ASML workers to a maximum of 10% of their annual salaries, Ms. Kitchener said Wednesday. Job cuts won't be part of the cost-cutting moves, she said. With 2002 drawing to an end, it is clear that ASML has been experiencing its " second worst-ever year," adding that next year will be the third worst. ASML doesn't expect a "meaningful recovery" in global chip markets before the end of 2003. "By closing all operations world-wide, we expect to save money, but I can't say how much," Ms. Kitchener said. "This is mainly a matter of using our cash as efficiently as possible." However, Ms. Kitchener said ASML is sticking to its existing sales targets, such as selling 100 lithography machines in the second half of this year. ASML will announce measures to cut costs in 2003 around the middle of December, she said, adding that "no option is ruled out right now to cut costs next year," including job cuts. "We are looking at every possibility," she said. ASML makes high-technology machines that map out the intricate circuitry on silicon wafers, which are used to make microchips. The company has operations in several countries, including the U.S. and the Netherlands. ASML has said previously that it will work to free up cash to lower its debt. ASML has 1.1 billion euros in convertible bonds outstanding. However, in a positive development for ASML, the company is closer to securing access to the crucial U.S. market following a recent decision in its favor in a long-running legal battle with Japan's Nikon Corp. Staff members advising a judge in the case have recommended that he reject Nikon's claim that ASML infringed Nikon's patents in the U.S. market, people familiar with the situation told Dow Jones Newswires. As a result, ASML could be free of its legal headaches in the U.S. by early next year. If the judge clears ASML of the charges, it would be a major boost for the company. The case is before the Washington-based International Trade Committee, an independent body that rules in trade disputes. The ITC has the power to forbid companies that violate trade rules from doing business on U.S. soil. At the heart of Nikon's case against ASML are patents that apply to the complex lithography machines both companies sell. Chip makers such as ASML's main client, Intel Corp. (NasdaqNM:INTC - News) , use the machines to produce the semiconductors used in computers, mobile phones, cars and a host of other products. Nikon alleges that ASML unlawfully imported machines using Nikon's technology into the U.S., where each company has about 30% of the lithography market. ASML rejects the charges. "ASML believes and has always believed that it has a solid case, which it vigorously pursued," an ASML spokeswoman said. Nikon executives couldn't be reached immediately for comment. A final ruling by the judge is expected early next year. That ruling is subject to review by the commission. biz.yahoo.com