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

To: StanX Long who wrote (8798)	2/26/2003 1:16:35 AM
From: StanX Long	Respond to of 95646

Well someone now has money to buy Semi Equipment, Stan. Govt Approves Taiwan Semiconductor Finance Plan for China Plant By Alan Patterson 02/25 23:49 Taipei, Feb. 26 (Bloomberg) -- The Taiwan government said it has approved a finance plan by Taiwan Semiconductor Manufacturing Co., the world's largest supplier of made-to-order chips, to build the island's first chip plant in China. Taiwan Semiconductor still needs to provide information on its operations in Taiwan before the government will let the company move old production equipment to the China plant, the Taiwan Investment Commission said in a statement on its Web site. The commission didn't provide details on the finance plan. ``Taiwan Semiconductor can legally start preparatory work in China,'' Vice Economic Minister Shih Yen-shiang told reporters. Taiwan Semiconductor in January received preliminary government approval to set up a plant in the Shanghai suburb of Songjiang. The company said it plans to borrow $418 million from banks in China to help finance the $898 million factory. Taiwan's decades-old ban on chipmakers moving to China is aimed at keeping some of the world's most advanced technology from the island's political foe. Taiwanese chipmakers have said they are losing potential share of the world's third-largest chip market to rivals such as Semiconductor Manufacturing International Corp., which started production in 2001. quote.bloomberg.com