Robert, you need to take my comment in the context these were presented. CYMI will have to do their own strategic planning. I was responding to a question/proposition relative to CYMI using its technology in the medical field. What I pointed out to is that a company like CYMI, which has its genesis in its unique technological expertise in excimer lasers, has in essence two options when looking at expansion. The first is find completely new markets for its existing technology, the second is to find (adapt, develop, acquire, whichever) new technologies (or products) for its existing markets.
CYMI's technological prowess in the field of excimer lasers allowed them to build a presence (distribution, service, brand name) in the semiconductor market, it would be the natural thing to find out what additional "widgets" these markets need to exploit this marketing infrastructure (that is what we call "market driven approach" to expansion). This approach, if selected is best implemented, near bottoms of the semi cycle when other companies serving that markets are valued at rock bottom.
An alternative approach to assuring future continuous growth (which is not necessarily exclusive of the first) is to find and develop completely new markets for its existing technology. An approach with has been quite successfully implemented, for instance, by Thermoelectron.
I am not telling CYMI which is best, because, I do not know which is best. All I said is that I could not see any evidence that either were in "motion". It is quite possible that this is even too early in CYMI "corporate life", since we must assume that they are still struggling to execute the establishment of a "market driven" philosophy within the market they operate (thus the very large expenditures last year in establishing a worldwide service organization).
Zeev |
