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Texas Instruments Announces Plan to Trim 2002 Capital Expenses by 33 Percent.
Knight Ridder/Tribune Business News, November, 2001
By Crayton Harrison, The Dallas Morning News Knight Ridder/Tribune Business News
Nov. 1--Texas Instruments Inc. will cut its capital expenses to $1.2 billion in 2002, a 33 percent drop from this year's $1.8 billion, chief financial officer Bill Aylesworth said Wednesday.
The Dallas chip maker will reduce expenses by delaying the installation of new manufacturing equipment, said Ron Slaymaker, vice president for investor relations.
TI has already postponed some capital spending this year to cut costs, Mr. Slaymaker said.
For instance, the company has upgraded only part of one Dallas manufacturing facility instead of the entire plant.
TI has faced a deep slump in the semiconductor industry as demand for technology...
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