Micron Technology Chairman Steve Appleton told shareholders Thursday that Micron is better positioned than its competitors to weather what he called the economy's "perfect storm."

Appleton and other Micron executives said the Boise memory-chip maker's cash flow, cash holdings and debt are all better than those of its overseas competitors. Micron is the only U.S. maker of dynamic random-access memory.

Appleton spoke to about 50 shareholders at the company's annual meeting at Micron's headquarters. The meeting was mostly uneventful, with just one question from a shareholder.

At a news conference afterward, Appleton said he doesn't foresee any further staff reductions in Boise, but will continue evaluating Micron's employment levels as the market dictates. Micron laid off about 1,100 Boise workers last year and announced layoffs this fall of 1,500 more.

Appleton said he doesn't expect Micron to build any new production plants in Boise or elsewhere in the near future. But he still sees opportunities to expand production by acquiring it from other companies as long as their debt is manageable and their cash flow is positive. Micron has been thought to be talking this fall to Germany's struggling Qimonda AG, but Appleton wouldn't confirm that Thursday.

By: DocMemory
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