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Technology Stocks : Lam Research (LRCX, NASDAQ): To the Insiders -- Ignore unavailable to you. Want to Upgrade?

To: Mort who wrote (2871)	5/17/1999 8:25:00 PM
From: Duker	Respond to of 5867

Philips to buy stake in LG business [Let's hope the $1.6bn gets reinvested in the proper sector! --Duker] NEW YORK, May 17 (Reuters) - Dutch electronics giant Royal Philips Electronics said Monday it made a preliminary agreement to buy a 50 percent stake in the active matrix liquid crystal display (AMLCD) business of Korea's LG Electronics for $1.6 billion. The business had sales of about $500 million in 1998 and expects that to rise to approximately $1.8 billion in 1999, Philips said. LG is currently the largest manufacturer of AMLCDs in the world, Philips said, adding that the market for such flat-panel displays is expected to grow by more than 20 percent annually. The new company will begin as a manufacturing and technology joint venture with the potential to develop into a full joint venture over time, incorporating all the AMLCD activities of both companies. Closing of the transaction is expected at the end of July, and the joint venture will officially start in August. --------------------------------------------------------------------------------