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Technology Stocks : Ampex Corporation (AEXCA) -- Ignore unavailable to you. Want to Upgrade?

To: killybegs who wrote (3721)	11/1/1998 9:25:00 PM
From: Robert Calusdian	Read Replies (1) \| Respond to of 17679

I came across a VHS tape formatted for an ADAT machine with the AMPEX name printed on it. Does Ampex still manufacture these tapes -- or is this old stuff?

To: killybegs who wrote (3721)	11/2/1998 4:35:00 AM
From: flickerful	Respond to of 17679

financial times....2 november 98 low margin products in shrinking markets...bankruptcies or simply cutting off a few limbs? Philips to close one-third of factories worldwide By Gordon Cramb in Amsterdam and Alice Rawsthorn in London Philips, Europe's largest consumer electronics group, plans to close about a third of its factories worldwide over the next four years, as it battles to revive stalled profits growth. The Dutch group aims to cut its manufacturing sites from 244 to between 160 and 170 by 2002. It plans to make better use of remaining facilities and draw more on outside suppliers. Cor Boonstra, president of Philips, said the group had "built too big a production capacity for requirements". He said it was now open to acquisitions in areas such as medical products, semi-conductors and lighting. "Now we can take our pick where we acquire and grow," he said. Mr Boonstra said the main challenge to Philips - poised to sell its controlling stake in the PolyGram entertainment group to Seagram of Canada in a $10.4bn deal - was "not to jump into acquisitions because we have the liquidity". He identified the US as the main market in which it wanted to expand. Philips is also looking for global partnerships with other electronics manufacturers, in particular product sectors, despite the unwinding of its year-old joint venture making telephone handsets with Lucent of the US, which has cost Philips Fl 1bn ($540m). Questioning Lucent's motives in entering into that deal, Mr Boonstra said: "At a certain moment you have to conclude that the partnering has not been done to strengthen the business, but to get out of the business." Lucent is selling or closing its parts of the consumer communications operation. Philips, which saw the tie-up as a way to break into the US market for mobile phones, will concentrate instead on the European GSM standard. As a result of the Lucent debacle - and a weakening of market demand which, according to Mr Boonstra, is now spreading to the US - Philips expects flat profits this year before any contribution from the disposal of its 75 per cent in PolyGram. Philips is now scrutinising its remaining operations in electronics hardware after a two-year programme in which it has shed peripheral or underperforming units. That rationalisation has already reduced the number of Philips plants. Twenty-five sites have been closed so far this year with another 18 scheduled. Mr Boonstra said the final figure would depend on how Philips's markets developed. He added that the Dutch group had looked at both the "potential for integrating manufacturing facilities and at the possibility to close facilities".