Samsung abandons 450m pounds sterling microchip investment in the North-east

Article Abstract:

Electronics concern Samsung is one of a number of South Korean companies being forced to review foreign investments in the light of the serious financial crisis in South Korea. It has decided to postpone indefinitely a facility manufacturing personal computers, semiconductors and fax machines at its plant at Wynyard Park, England. This scheme would have represented investment of $1.4 billion and employed 2,000 people. Theoretically, the project may be revived if the South Korean economy improves and semiconductor prices rise.

Semiconductors and related devices, Semiconductor Devices, Semiconductor and Related Device Manufacturing, Semiconductor industry, Foreign operations, Samsung Group

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Northern Electric sparks 650m pounds sterling US bid

Article Abstract:

CE Electric, a UK-based energy group formed by US power generator CalEnergy, which does not have a very high profile, has made an unexpected 651 million pounds sterling hostile takeover bid for Northern Electric, which was not regarded as a likely takeover target by City analysts. It has been revealed that CE has already invested 81 million pounds sterling to take a 12.72% stake in Northern, which has seen a sharp rise in its share price. There has also been a rise in the shares of other regional electricity companies.

Management, Planning, Electric utilities, Northern Electric PLC, CE Electric

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