Feeds

Hynix pumps up 2004 capex

Non-memory sale to go ahead next month

  • alert
  • submit to reddit

Buoyed by booming sales, Hynix is set to increase its spending on new chip-making equipment by 29 per cent this year, the company's CEO, Woo Eui-Je, said today.

Cited by Korean business newspaper Joong Ang Daily, Woo said this year's capex budget will rise from KRW1.4tr ($1.2bn) to KRW1.8tr ($1.6bn).

The announcement follows a record-breaking second quarter, which saw the once-troubled memory maker report net income of KRW620bn ($542m) on sales of KRW1.7tr ($1.5bn). The company still has a big financial debt owed to its creditors, albeit much reduced by recent debt-to-equity transactions. It is banking on ongoing sales and income growth to fund the increase in capital spending.

That growth will come, the company believes, from higher memory prices.

Separately, Hynix said the sale of its non-memory products manufacturing business to a Citigroup Venture Capital Equity Partners will be completed by the middle of October 2004. Shareholder opposition delayed the deal, which was supposed to complete in August 2004. ®

Related stories

Hynix creditors to vote on China DRAM fab plan
Hynix cashes in its chips
Hynix overtakes Micron in world DRAM chart
Hynix reports record profit
Chip-making kit vendors toast bumper year
Japan to probe Hynix DRAM dealings
Infineon pleads guilty to memory price-fixing

Whitepapers

Providing a secure and efficient Helpdesk
A single remote control platform for user support is be key to providing an efficient helpdesk. Retain full control over the way in which screen and keystroke data is transmitted.
Top 5 reasons to deploy VMware with Tegile
Data demand and the rise of virtualization is challenging IT teams to deliver storage performance, scalability and capacity that can keep up, while maximizing efficiency.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.
Secure remote control for conventional and virtual desktops
Balancing user privacy and privileged access, in accordance with compliance frameworks and legislation. Evaluating any potential remote control choice.