■ CPC to hike gas prices
Chinese Petroleum Corp (中油) announced price hikes on wholesale gasoline and diesel by NT$0.6 per liter, an average increase of 3.56 percent. The price adjustment went into effect at midnight last night. Smaller oil refiner Formosa Petrochemical Corp (台塑石化) said they would decide today whether to follow suit or not.
■ ProMOS signs loan
ProMOS Technologies Inc (茂德科技), one of Taiwan's largest memory chipmakers, said yesterday it signed a NT$3 billion syndicated loan on buying new equipment for an advanced 12-inch plant in Hsinchu Science-based Industrial Park (新竹科學園區). Nine domestic lenders including Taiwan Cooperative Bank (合作金庫) and Hsinchu International Commercial Bank (新竹國際商銀) signed the loan contract, the company said in a statement. ProMOS expected at least half of its output will come from the advanced 12-inch plant in the second half of the year. ProMOS currently has one 8-inch and one 12-inch fabs in operation. The company is slated to build its second 12-inch fab in Taichung next month.
■ Hon Hai buys Dominant shares
Hon Hai Precision Industrial Co (鴻海精密), one of Taiwan's largest makers of electronics components, reported yesterday its fully-owned subsidiary Foxconn (Far East) Ltd had acquired 47-million-euros-worth of shares in Dominant Elite Holdings Ltd under Thomson SA, a leading manufacturer of consumer electronics based in France. Hon Hai could acquire manufacturing technology in key components of optical memory products like DVD and MP3 players through the deal, helping strengthen its foothold in the component, module, move and services (CMMS) sector, the company said in a statement. The company started undertaking its transformation scheme in 2002, aiming to become a leading high-tech company in the integrated optoelectronics and electrical machinery industry by 2008. Hon Hai is scheduled to hold its annual shareholder's meeting on June 10 to report on the progress in the acquisition of wireless equipment maker Ambit Microsystem Corp (國電) as well as to re-elect board members.
■ Alcatel to set up R&D center
Handset maker Alcatel yesterday signed a contract with the Ministry of Economic Affairs to inaugurate the Alcatel Taiwan ICT R&D Applications Center, marking the fist telecom company to set up a research center in Taiwan. The center will focus on the broadband wireless applications market. The key areas for research range from E2E solutions, 2.5G/3G solution Interoperability testings (IOT), 3G/B3G Real Time Call Control technology and other wireless broadband applications such as communications middle-ware technology..
■ Cap company bounces checks
San Sun Hat & Cap Co (三勝製帽), Taiwan's largest maker of baseball caps, bounced NT$20 million in checks after an uprising in Haiti forced the company to shut its factory, ETTV reported, citing chairman Day Sheng-tong (戴勝通). The company invested NT$200 million in Haiti in 2000 as part of Taiwan's commitment to maintaining diplomatic relations, the report said. The company has asked the Taiwan government to provide loans to bail it out, the report said. Haiti is one of 27 countries that recognizes Taiwan.
■ NT dollar moves up
The New Taiwan dollar yesterday moved up by NT$0.034 to NT$33.251 against the US greenback on turnover of US$478 million on the Taipei foreign exchange market.
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