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To: Bipin Prasad who wrote (38182)	9/6/1998 11:27:00 AM
From: James Cornwell	Respond to of 53903

dailynews.yahoo.com Friday September 4 10:01 AM EDT Fujitsu Plant To Close By December - BBC LONDON (Reuters) - Fujitsu Ltd of Japan plans to close its only European microchip plant with the loss of 600 jobs in Prime Minister Tony Blair's constituency in Northern England, the BBC reported today. Workers leaving the factory in Newton Aycliffe, County Durham, said the firm had told them the plant would cease production and close by December, the BBC said. The plant, which lies in Prime Minister Tony Blair's Sedgefield constituency, will be put on a ''care and maintenance'' basis until the end of February while Fujitsu searches for a buyer. Takamitsu Tsuchimoto, head of the firm's electronic devices group, laid the blame for the closure at the door of plummeting prices for computer memory chips. ''We would like to stress that the decision was in no way influenced by the economic climate in the UK. the critical issue for the facility at Newton Aycliffe was the state of the memory market internationally,'' he said in a statement. Fujitsu said it was also reducing commodity production of dynamic-random access memories (DRAMs) in Japan and other locations. Since the end of 1995, 16-megabit DRAMs have plunged from $45 to around $1.50 while 64-megabit DRAMs fetching $30 in the first half of 1997 have fallen more than 70 percent. In the face of such unprecedented price falls, Fujitsu said it had determined to restructure its memory business, including the closure of the plant in County Durham. EVERY LITTLE BIT HELPS!