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Palmisano Defends IBM's $3 Billion Microchip Plant | |
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| Time: 19:03 EST/00:03 GMT | News Source: Reuters | Posted By: Alex Harris | ||
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International Business Machines Corp. Chief Executive Samuel Palmisano on Wednesday defended IBM's new $3 billion microchip plant, saying that investment is the key to IBM's growth. "We understand it is an economic downturn and whereas people would not encourage us to invest in this environment, we see the long-term opportunity in the industry," Palmisano said at a ribbon-cutting ceremony for the East Fishkill plant. Palmisano said the plant and the deal to buy PricewaterhouseCoopers Consulting are important to the future of the Armonk, New York-based computer maker. IBM on Tuesday said it would buy PricewaterhouseCoopers Consulting for $3.5 billion, expanding its services business in the company's largest acquisition ever. The East Fishkill plant, which is due to start producing chips in the first quarter of 2003, is IBM's first 300 millimeter semiconductor plant, which uses dinner plate sized wafers to print semiconductors. That is in contrast to less efficient salad plate sized wafers that are the current standard. | ||
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