Austria: Infineon may have to dismiss more employees

Article Abstract:

The Austrian producer of semiconductors Infineon cannot guarantee that no more employees of the company's plant in Villach may have to be dismissed in the future. However, 300 people will definately leave by January 2002 and worldwide Infineon will dismiss 5,000 of its 34,000 members of staff. For the semiconductor producing industry a growth by 20% had been expected for 2001, instead it decreased by 30%. For Infineon, chips for automobile electronics and well as chip cards, which are used by passengers in some major cities to get access to public transportation systems, are promising. Memory chips on the other hand are sold for 20% of the cost of the production. Therefore the company's turnout rise in 2001 by over 25% to EUR 428.6mn is of no help.

Semiconductor Devices, Labor force information, Personnel administration, Infineon AG

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AUSTRIA: NEW OWNERS FOR AUSTRIA MIKRO SYSTEME

Article Abstract:

International investment funds are to submit a bid for the Austrian Unterpremstatten-based semiconductor manufacturer Austria Mikro Systeme (AMS). A new company called Aspern Industriebeteiligungs AG (Aspern AG) has been set up for the takeover. Aspern is to offer EUR 90mn per share (which is 22% above the latest stock exchange price) or just over EUR 269mn in total. Shareholders representing more than 25% of AMS stock are supporting the bid. AMS is to build a new chip production line in Unterpremstatten between June 2000 and spring 2002 in a Sch 4.2bn project.

Asset sales & divestitures, Capital expenditures

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