Thu, Feb 27, 2003 - Page 10 News List

Infineon chairman visits to discuss local investments

BLOOMBERG , TAIPEI

ProMos Technologies Inc (茂德科技) chairman Hu Hung-chiu (胡洪九) yesterday met Infineon Technologies AG chairman Ulrich Schumacher to discuss the Taiwan chip venture, ProMos said in a stock exchange statement. ProMos didn't elaborate.

Infineon, the world's No. 4 computer-memory-chip maker, is battling with management of ProMos, which wants more independence and other customers.

The German company, ProMos' second-biggest shareholder and one of its largest customers until last year, earlier said it will sell its stake in the venture.

Infineon chairman Ulrich Schumacher is in Taiwan to discuss with government officials its investments in the country, company spokeswoman Yang Sook-chin said, confirming a local newspaper report.

Schumacher will meet Minister of Economic Affairs Lin Yi-fu (林義夫) today to ask for the government's support of its plans to continue investing in Taiwan, the report said.

The report said that Schu-macher would meet ProMos' Hu to discuss the stake sale, transfer of technology from Infineon and rights to ProMos' production, citing ProMos president Chen Min-liang (陳民良).

"We will send out a release later this afternoon," ProMos spokesman Albert Lin (林育中) said.

Shares of ProMos rose 6.62 percent, their daily limit, to NT$8.05 on the Taiwan stock exchange. Parent Mosel Vitelic Inc (茂矽電子) rose 3.96 percent to close at NT$5.25.

Infineon has set up ventures with rival chipmakers in Taiwan as it seeks to cut costs.

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