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Fortune Magazine Ranks STMicroelectronics Among "The 10 Great Companies in Europe" to Work For |
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Geneva, January 29, 2002 - STMicroelectronics (NYSE: STM) announced it has been named one of the "10 Great Companies in Europe"* to work for by Fortune Magazine, in the February 4th issue which just went on sale on news stands. Fortune has published annual lists of the "100 Best Companies to Work For in the United States" for the past five years. This year marks the first time any publication has looked across Europe to appraise companies as workplaces. According to authors Milton Moskowitz and Robert Levering: "We canvassed a wide range of people in the U.S. and Europe, but especially in Europe. We put the question 'Which are the great workplaces in Europe?' to journalists, securities analysts, business school professors, consultants and social-investment researchers. We also consulted surveys of European university students that asked which companies they would like to work for. As we went from city to city, we asked a wide range of people, including employees, which firms they would recommend. We ended up with a list of 75 candidates. After analyzing these companies and asking people in each country to rate the candidates, we narrowed our selection to 13 companies." The Fortune survey team visited and conducted interviews with employees at each of the 13 companies. For ST, they met with more than two dozen employees working at various levels and positions, at ST's facility in Agrate, Italy, which is representative of its 18 main manufacturing sites around the world of which close to ten in Europe. "In the end, these interviews were the crucial factor in our final selection of 10 companies (listed in no particular order)," the authors pointed out. "We followed the same rule we do in the U.S., even though no formal surveys were conducted: For a company to make the grade, it must have employees who tell us they love to work there." "In less than 15 years, ST has risen to become one of the top five chipmakers in the world and we could not have achieved that without a dynamic, talented and motivated workforce," pointed out Alain Dutheil, ST's Corporate Vice-President for Strategic Planning and Human Resources. "Our people are motivated by a challenging and stimulating environment and they are the key to our success. We are proud to be on the Fortune list of 'great companies' and, even more, we are proud of our employees who played a fundamental role in the Company's outstanding performance throughout the world." The profile by Fortune reflects ST's commitment to Total Quality and Environmental Management (TQEM - see Editor's Note). A cornerstone of ST's corporate philosophy, TQEM is strongly focused on individual development through employee empowerment. ST has won numerous awards for its efforts in this field, including the European Quality Award and the Malcolm Baldrige National Quality Award, the highest level of national recognition for quality available to companies in the U.S. In 2001, ST was also ranked in the top 3 among "the world's most competitive companies" in a study of 300 global firms by INSEAD business school professor Jean-Claude Larreche. According to recent data for the 2001 semiconductor market, ST was ranked at number three, four and five, respectively, by independent market analysts Gartner Dataquest, Pathfinder and IC Insights. About STMicroelectronics STMicroelectronics is the world's third largest independent semiconductor company. The Company's shares are traded on the New York Stock Exchange, on Euronext Paris and on the Milan Stock Exchange. The Company designs, develops, manufactures and markets a broad range of semiconductor integrated circuits (ICs) and discrete devices used in a wide variety of microelectronic applications, including telecommunications systems, computer systems, consumer products, automotive products and industrial automation and control systems. In 2001, the Company's net revenues were $6.4 billion and net earnings were $600.8 million. Further information on ST can be found at www.st.com. |
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