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CALIFORNIA | TECHNOLOGY | THE STATE

Firms End Effort to Get Thai Payment

June 20, 1997|(Bloomberg News)

Applied Materials Inc., San Jose-based Novellus Systems Inc., Fremont-based Lam Research Corp. and San Jose-based GaSonics International Corp. said they will take charges in the current quarter to cover delinquent payments from Thailand's Submicron Technology. The four makers of computer chip manufacturing equipment were part of a group of five companies that ended a collective effort to recover unpaid bills from Submicron. The fifth company, San Jose-based Silicon Valley Group Inc., didn't say if the decision would affect its earnings and couldn't immediately be reached to comment. The five companies were owed "significant amounts" by Submicron and had banded together to try to reach a settlement with the company. Submicron is estimated to have owed $190 million to suppliers. Santa Clara-based Applied Materials, the world's largest maker of such equipment, said the failure to get paid for what it was owed will result in a $16-million pretax charge in the current quarter.

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