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Wed, Aug 01, 2001 - Page 21 News List

NEC hopes to sell plants to foreigners

AGAINST THE GRAIN NEC has shrugged off opposition to its decision to sell a third of its local factories to foreigners, making it only the second Japanese firm to do so

BLOOMBERG , TOKYO

NEC's unions might be coming around, too.

"We would support it if the factory sale didn't compromise workers' conditions," said NEC union deputy chairman Hisashi Urata.

The sales will not be painless. Analysts and economists predict plant sale to foreign companies will undoubtedly lead to layoffs.

"Most foreign buyers would not operate plants in the same labor size as Japanese companies," said an economist Satterwhite.

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