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

To: Mark Madden who wrote (5462)	8/13/1998 1:12:00 AM
From: DJBEINO	Read Replies (1) \| Respond to of 7841

SEAGATE TO MAKE NEW SERIES OF RECORDING HEADS IN MALAYSIA KUALA LUMPUR, August 12 -- Penang Seagate Industries (M) Sdn Bhd will transfer its latest technology in the production of a new series of read-write magnetic recording heads to its Ipoh plant, in the northern Perak sate, in November. Its vice president and managing director for Malaysia Recording Heads Operation, Lay Yok Hin, said this is one of the steps taken by the company to further expand its advanced technology operation in Ipoh. The company has started production of the new recording heads, which are said to be the smallest recording heads in the market, at its plant in the northern Pulau Pinang state early this year. He told reporters after witnessing an agreement signing between Seagate and the Perak State Development Corporation for the renewal of the former's yearly rental contract for PSDC's 96 hostel units for Seagate's staff in Jelapang near here. With the plan to transfer the technology to the Ipoh plant, the company has started a training programme in Penang for engineers and technical staff from Perak. Lay said despite the economic downturn in the region and the fall in demand for computers, the parent company, Seagate Technology Inc, has been able to record a US$22 million profit for the first quarter of this year. With the sum generated, the company is able to continue investing further in advanced technology and upgrade the skills of its workers worldwide, he said. The California-headquartered Seagate operates in 20 countries, including Malaysia, Thailand and Singapore. The Ipoh plant at the Kinta Free Trade Zone in Chemor is one of seven plants in Malaysia and has been operational in the last three years. It produces thin film recording heads with a workforce of 4,500. About 1,000 of the workers are housed in the fully furnished PSDC three-room flats in Jelapang, near Ipoh. On its voluntary retrenchment programme conducted in February this year, Lay said only 180 of its workers from the Ipoh facility opted out.