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To: E_K_S who wrote (3797)	12/15/2011 12:39:34 PM
From: FJB	Respond to of 3813

AMAT is a direct competitor in etch and deposition. It is hard to see how there would be any operational integration issues, because there is almost no overlap in the product lines. Just keep running them as is. The sales and upper management - there could be some confusion in the short-term. Probably good for sales in the long-run...

To: E_K_S who wrote (3797)	12/15/2011 2:43:52 PM
From: etchmeister	Respond to of 3813

"Is there very much overlap as to what AMAT does vs the new combined NVLS & Lam Research?" Lam (in etch) and NVLS (in deposition) are AMAT and also TEL's main competitors. Nothing really changed in regards to overlap but: AMAT's advantage was being able to bundle etch and dep solution and eventually provide a better price to the customer. Besides they only have to deal with one supplier. This advantage does not exist anymore - I can not see how AMAT could benefit from the merger. It's probably a slight disadvantage for AMAT. For example a car manufacturer could buy engine and trany from two separate suppliers and it might be a good solution. However when a supplier builds both the engine and the trany the supplier might be able to optimize the gear ratios for this particular engine and eek out a slight advantage and eventually give better price.