PARIS, Sept 19 | Mon Sep 19, 2011 2:35am EDT
PARIS, Sept 19 (Reuters) - French chipmaker STMicroelectronics is open to acquisitions in the United States and Asia to expand its microprocessor and motion sensor businesses, chief executive Carlo Bozotti said in an interview in the Wall Street Journal.
The group has $1 billion for takeovers and wants to become "major leaders worldwide" in those areas, as well as reducing the portion of its cost base in the euro zone to compensate for the weakness of the dollar, Bozotti said.
"We have the financial strength to address M&A opportunities if the opportunity arises," Bozotti was quoted as saying on Monday.
Still, "nothing is in the works" currently, and the group's priority remains to turn around its loss-making ST-Ericsson joint venture, Bozotti said. (Reporting by James Regan; Editing by Dan Lalor)
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