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Technology Stocks : QUANTUM -- Ignore unavailable to you. Want to Upgrade?

To: Rational who wrote (6351)	12/10/1997 2:44:00 PM
From: Harley Morgan	Respond to of 9124

Seagate says N.Ireland expansion delayed Hopefully this does not have more dire meaning for Quantum's earnings then previously thought. Wednesday December 10, 2:25 pm Eastern Time Seagate says N.Ireland expansion delayed DUBLIN, Dec 10 (Reuters) - Seagate Technology Inc on Wednesday said a planned plant expansion in Londonderry, Northern Ireland, would be delayed by up to six months because of soft market conditions. In particular, weakness in the high-end segment of the disc drive market was cited for delaying the wafer fabrication plant completion, but a company executive said he was confident the expansion programme would resume later. ''Seagate does not need the additional capacity at this time,'' Brendan Hegarty, executive vice-president of Seagate Recording Heads Group, said in the statement. ''The performance of the (Londonderry) operation since its inception four short years ago has been outstanding and I am confident the expansion will resume in the not too distant future.'' In June, U.S.-based Seagate said it was investing a further 149 million sterling to more than double the size of the Northern Ireland plant and create 1,125 more jobs. The plant started up in Northern Ireland's second city in March 1993. --------------------------------------------------------------------------------