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The electronic environmentalist
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14/07/2005
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Pasquale Pistorio, president and ceo of STMicroelectronics, has always been an optimist. Nevertheless, the growing weakness of the European semiconductor industry makes him anxious.
The Old Continent is facing new challenges. The European economy is picking up too slowly, while Asian competition is growing too quickly.
The good news is that the European semiconductor market still represents around 19% of the global market and European companies like STMicroelectronics, Infineon and Philips are among the top world players in semiconductors.
But the bad news is that today’s Europe is not competitive enough to keep its status. Even in a strong year like 2003, the semiconductor market contracted around 3% in Euro terms. According to Malcolm Penn, chairman and ceo of the electronics research organisation Future Horizons: “The outlook for Europe has never been worse.”
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Author
Vanessa Knivett
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