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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: Kirk © who wrote (37261)	9/14/2000 9:00:39 AM
From: Proud_Infidel	Read Replies (2) \| Respond to of 70976

Applied Materials Israel sales to $1 bln in 2-3 years TEL AVIV, Sept 14 (Reuters) - Applied Materials Inc (NasdaqNM:AMAT - news), the world's biggest maker of chip manufacturing equipment, expects sales from its Israeli unit to reach $1 billion in two to three years, Ha'aretz daily said on Thursday. Most of the company's process diagnostic and control group's activities are in Israel, following Santa Clara, California-based Applied Materials' 1997 acquisition of Israel's Opal Inc and Orbot Instruments for $285 million. ``They had sales of $600 million in the year before the last quarter,'' Applied Materials president Dan Maydan, who is visiting Israel, told the newspaper. Ha'aretz said Applied Materials has invested $500 million in the Israeli companies it acquired. ``In retrospect, I think that in Israel were made Applied Materials' most strategic investments, and the success is great,'' the newspaper quoted Maydan as saying.