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

Why and how to choose the right cloud vendor
The benefits of cloud-based storage in your processes. Eliminate onsite, disk-based backup and archiving in favor of cloud-based data protection.
Getting started with customer-focused identity management
Learn why identity is a fundamental requirement to digital growth, and how without it there is no way to identify and engage customers in a meaningful way.
5 critical considerations for enterprise cloud backup
Key considerations when evaluating cloud backup solutions to ensure adequate protection security and availability of enterprise data.
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.
Managing SSL certificates with ease
The lack of operational efficiencies and compliance pitfalls associated with poor SSL certificate management, and how the right SSL certificate management tool can help.