Rosenfeld is replacing Ronen Ben-Zion, who held the position for four years.
Applied Materials Israel Ltd. today appointed Itay Rosenfeld to replace president Ronen Ben-Zion, who held the position for four years.
Applied Materials Inc. (Nasdaq: AMAT) is one of the largest high-tech companies with operations in Israel. The company's local unit has 1,000 employees. In contrast to the Israeli operations of many other multinationals, Applied Materials is engaged in both R&D and production in Israel. The Israeli center focuses on developing diagnostic and testing tools for semiconductor wafer production.
Although Ben-Zion says that he is leaving the company for personal reasons, Applied Materials' Silicon Systems Group (SSG) is going through a rough time. In its financial report for the second quarter, published last week, Applied Materials cut its forecast for the wafer fabrication equipment (WFE) market to $29-33 billion from $30-33 billion, due to the slowdown in the semiconductor industry and low demand by fabs. The company also published a disappointing guidance for the third quarter.
Published by Globes [online], Israel business news - www.globes-online.com - on September 1, 2011
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