29 MAY 2002

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ST predicts Q2 growth

By a staff reporter

With industry analysts predicting a slight recovery of the world wide semiconductor market this year STMicroelectronics is confident that it will outperform the market as it has done in the past and bounce back from the bleak period suffered last year.

Talking to the monthly magazine Economic Update, out today with The Malta Financial and Business Times, ST Vice President and Managing Director Gene Grechten said the consensus is that the market will grow between 1-4 per cent in relation to 2001.

"STMicroelectronics has consistently outperformed the market in the past and I see no reason for that to change," Mr Grechten added.

ST CEO Pasquale Pistorio recently announced that the first quarter 2002 was the bottom of the cycle and the semi-conductor giant is expecting double digit growth in the second quarter.

Mr Grechten described the role of the Malta plant as integral to STMicroelectronics world-wide operations. He explained that the Malta plant is tasked with handling the most complex productions produced by STMicroelectronics.

Internationally the group employs 42,000 people with the Malta plant accounting for 2,400 workers, which Mr Grechten described as highly skilled and adaptable.

 



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