Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: William Epstein who wrote (6344)	11/24/1998 11:35:00 PM
From: DJBEINO	Read Replies (1) \| Respond to of 7841

Seagate Reportedly Scraps Indonesian Plant Plans Due To Social Unrest JAKARTA -(Dow Jones)- The U.S. disk-drive maker Seagate Technology Inc. canceled its investment in Indonesia because of concerns over political instability in the country, a local newspaper reported Wednesday. The daily Kompas reported Seagate had planned to build its factory in Medan, North Sumatra, with an investment of 10 trillion rupiah ($1.32 billion), but canceled the plan in light of the recent social unrest in Indonesia and decided to develop factory in Subic, in the Philippines. The government last year granted a nine-year tax break to Seagate Technology Sumatra, a company set up to operate the Medan operation. Copyright (c) 1998 Dow Jones & Company, Inc.