By Noel Randewich
SAN FRANCISCO Nov 28 Applied Materials
, the top manufacturer of equipment for chip makers, on
Wednesday named a new executive to head up two poorly performing
non-core businesses - solar and display - though it said the
business groups are not themselves being combined.
Applied Materials said it hired KLA-Tencor veteran
Ali Salehpour to head the two groups.
Chipmakers worried about the global economy and wrestling
with declining PC sales have been spending less on new
manufacturing equipment sold by Applied Materials.
Applied Materials' non-core businesses have also performed
poorly, and the company said in October it would cut its work
force by 6 percent to 9 percent to reduce costs.
The solar panel industry has more than enough capacity to
meet demand, and manufacturers of displays for TVs and other
devices also face supply gluts.
Although Salehpour will head the two business groups, they
will remain separate, said Applied Materials spokesman Matt
Shares of Applied Materials slipped 2.26 percent in after-
hours trade, after closing 2.3 percent higher at $10.60 on