Europe, Asia Chip Away At Semiconductor Stock

In Europe and Asia there are dramatic new examples of restructuring in the depressed semiconductor industry. Germany's Siemens AG has launched a worldwide marketing campaign to sell its $US1.9 billion wafer fab near Manchester, England. It has sent promotional videos and brochures to rivals Motorola Inc., Fujitsu Ltd., and Samsung Electronics Co. Ltd.

Meanwhile, South Korea's Hyundai Electronics has broken off talks with Intel Corp. about forming a $1.15 billion joint venture to save Hyundai's still-uncompleted chip plant at Dunfermline, Scotland.

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