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Technology Stocks : MEMC INT'L. (WFR -NYSE) The Sleeping Giant? -- Ignore unavailable to you. Want to Upgrade?

To: Carl R. who wrote (4350)	4/16/1999 12:39:00 PM
From: N. Kedarnath	Read Replies (1) \| Respond to of 4697

Carl, Zeev The following 3 week old Reuters story may give a clue to MEMC's business and WFR's performance on the Street. Don't know why this story was not picked up the likes of Yahoo in the US. E-mail me for the URL. It's worth noting the phrase 'The utility also said it intended to cut investment in MEMC and focus on high-value wafer production at the unit.' Kedar ================================================================== Veba sees better '99 profit, improved MEMC result March 26, 1999 ------------------------------------------------------------------ DUESSELDORF, Germany, Reuters [WS] via NewsEdge Corporation : Diversified German utility Veba AG said on Thursday it expects to achieve a rise in 1999 pre-tax earnings, excluding about 2.6 billion marks ($1.45 billion) in proceeds from the sale of a stake in Cable & Wireless. Veba also said management would seek shareholder approval to buy back up to 10 percent of its own shares, but said that there were no concrete plans to buy back shares at present. Veba said its troubled U.S.-based MEMC silicon wafer subsidiary would improve earnings in 1999 as a result of reducing the workforce by nearly 25 percent and closing plants. The utility also said it intended to cut investment in MEMC and focus on high-value wafer production at the unit. MEMC posted a loss of 270 million marks in 1998 compared to a 24 million mark loss in 1997. [Copyright 1999, Reuters]