Advanced Micro Devices Inc (AMD)

[Elmer Phud]

AMD's Ruiz sees consolidation, slower growth in chip industry

FRANKFURT, Jul 23, 2003 (AFX-UK via COMTEX) --

Advanced Micro Devices Inc president and chief executive officer Hector Ruiz sees consolidation in the chip industry and slower growth than in the past, but does not expect that AMD will be the target of a takeover bid.

In an interview with weekly magazine WirtschaftsWoche, he said: "There will be a round of consolidation in the chip industry. We will have less providers and less growth in the future."

But AMD will continue to exist as an independent company, he added.

"We are like the American bullfrog. No one wants to swallow it, because it possesses a deadly poison. AMD also has such a poison: We compete with Intel," Ruiz said.