Thin Film Inductors: World Markets, Technologies & Opportuni<es: FY

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1 Thin Film Inductors: World Markets, Technologies & Opportuni<es: FY

2 Thin Film Inductors: World Markets, Technologies & Opportunities: A Profitable Look At One of The Next Generation of Passive Electronic Component Published July 2016 Price: $ USD Pages: 150 Tables & Graphs: 51ß ISBN #: (MLCI2016THINFILM) Published: July 2016 Paumanok Publications, Inc

3 Copyright 2016 Paumanok Publications, Inc. Published by: Paumanok Publications, Inc. Publication Date: July 2016 Paumanok Publications, Inc. 502 Ballad Creek Court Cary NC, USA Customer Service: (919) It is our mission to empower manufacturers, distributors, OEM, EMS, financial institutions and governments with unbiased market research to protect their assets, build their wealth and prosper in goods times and bad. To watch a movie about Paumanok Publications, Inc. 2

4 TABLE OF CONTENTS: Published: July About the Author: INTRODUCTION TO THIN FILM INDUCTORS: WORLD MARKETS, TECHNOLOGIES & OPPORTUNITIES: FY Scope of Report Coverage: Research Methodology: Government Data Collection and Resources: Secondary Published Sources: Primary Intelligence Gathering: Discrete Inductors and Their Respective Sub- Categories: FY The Passive Component Supply Chain: Mining of Raw Materials: Raw Materials Processing: Component Manufacturing: Component Distribution: End- Market Consumption: Recycling of Critical Materials: The Two Technical Economic Maxims Associated with Passive Electronic Components: Ubiquitous Nature of Passive Electronic Components In Electrical and Electronic Circuits: Relationship Between Performance and Available Surface Area: INDUCTOR MARKET: A GRANULAR ORIENTATION: Passive Component Markets for the Fiscal Year Ending March Reasons For Market Changes in FY 2016: Worldwide Discrete Inductor Market Growth: Changes in Value, Volume and Unit Pricing: FY 2016: Global Consumption Value for Discrete Inductor, Coils and Cores By Configuration: FY Global Consumption Value For Surface Mount Inductors By Type: FY THIN FILM INDUCTORS: AN EMERGING MARKET POWERHOUSE Thick and Thin Film Inductors Have Much In Common: Where Thick and Thin Film Inductors Differ: Case Size Comparison Results: Low Profile Thickness Comparison Results by Case Size: Inductance Range Comparison Results by Case Size: THIN FILM INDUCTOR MARKETS Thin Film Ceramic Chip Inductor Markets World Wide: FY

5 High Frequency Ceramic Inductors: (Thick Versus Thin Film): FY Thin Film Opportunity-Multilayered Ceramic Chip Inductor Markets Worldwide TAM: FY High Frequency Ceramic Chip Inductors: Technology Trends in Volumetric Efficiency Movement In Inductive Technology Platforms in FY THIN FILM INDUCTORS: COMPETITIVE ANALYSIS: Thin Film Ceramic Chip Inductor Markets by Case Size: FY Leading The Technology in Ultra-small Case Sizes Range: The Competition in the EIA Case Size: (Thin Versus Thick Film) Competition in the EIA O2O1 Case Size: (Thin Versus Thick Film) Competition in the EIA O4O2 Case Size: (Thin Versus Thick Film) Competition in the EIA O6O3 Case Size: (Thin Versus Thick Film) Competition in the O8O5 Case Size: (Thin Versus Thick Film) Thin Film Chip Inductors: 2016 By Case Size (In mm) Technology Leadership in the and Low Profile Chip Inductors: FY Technology Leadership in the 0201 to 0805 Low Profile Chip Inductors: FY Competitors By Case Size and Inductor Thickness (Thin and Thick Film): FY Technology Leadership in Low Profile Thin Film Ceramic Chip Inductors: FY Thin Film Ceramic Chip Inductor Markets By Inductance Range (Nanohenry nh Profit Centers): FY Maximum Inductance Capabilities By Chip Inductor Case Size: FY 2016 (in nh): Trends in nano-henrie requirements in ultra-small case size ceramic chip inductors: FY Competitive Analysis of Ceramic Chip Inductors By Case Size and Inductance Range: FY to 47 nh Markets: FY 2016 (MLCI Compared To Thin Film): FY to 100 nh Markets: FY 2016 (MLCI Compared To Thin Film): FY to 330 nh Markets: FY 2016 (MLCI Compared To Thin Film): FY 2016: to 330 nh Markets: FY 2016 (MLCI Compared To Thin Film): FY O8O5 Legacy Component Markets: Ceramic Chip Inductors: FY Thin Film Inductors: Q Factor Performance: Comparative Analysis: Technology Trends & Directions: Q Factor in Ceramic Chip Inductors by Case Size (Thin and Thick Film): FY Minimum Q Factor: FY Point of Product Differentiation: Ceramic Chip Inductor and Extremely High Q Factor Chips to 3 Minimum Q Factor Ceramic Inductor Markets: FY to 3 Minimum Q Factor and Competitive Environment: Leading Edge In Inductive Technology to 8 Minimum Q Factor Ceramic Inductor Markets: FY to 8 Minimum Q Factor and Competitive Environment: Leading Edge In Inductive Technology to 12 Minimum Q Factor Ceramic Inductor Markets: FY Minimum Q Factor and Competitive Environment: Leading Edge In Inductive Technology

6 Thin Film Inductor Markets By Maximum Rated Current: Maximum Rated Current By Ceramic Chip Inductor Case Size: FY 2016: Global Market Estimates for High Frequency Ceramic Chip Inductors By Rated Current: FY Estimated Ceramic Inductor Consumption Value by MilliAmp Range: FY to 350 ma Markets: FY 2016: Competition in the 80 to 350 ma Ceramic Inductor Range: (Thick Versus Thin Film By Vendor): FY to 470 ma Markets: FY 2016: Competition in the 351 to 470 ma Ceramic Inductor Range (Thick Versus Thin Film By Vendor): FY to 900 ma Markets: FY 2016: Competition in the 471 to 900 ma Ceramic Inductor Range: (Thick Versus Thin Film By Vendor): to 1200 ma Markets: FY 2016: Competition in the 901 to 1200 ma Ceramic Inductor Range (Thick Versus Thin Film By Vendor): Legacy Inductor Chips and Their Rated Current (0805EIA): (Thick Versus Thin Film By Vendor): FY THIN FILM INDUCTORS: MARKET SHARES AND COMPETITION: Thin Film Ceramic Chip Inductor Vendors: FY 2016 Sales and Market Shares: Thin Film Ceramic Chip Inductors: Global Product Offerings and Competitive Analysis By Vendor: FY Murata: Thin Film Ceramic Chip Inductor Product Offering: FY AVX Corporation: Thin Film Ceramic Chip Inductor Product Offering: FY Vishay-Dale: Thin Film Ceramic Chip Inductor Product Offering: FY Token: Thin Film Ceramic Chip Inductor Product Offering: FY AEM Components: Thin Film Ceramic Chip Inductor Product Offering: FY Darfon: Thin Film Ceramic Chip Inductor Product Offering: FY VIKING: Thin Film Ceramic Chip Inductor Product Offering: FY Chilisin: Thin Film Ceramic Chip Inductor Product Offering: FY CYNTEC: Thin Film Ceramic Chip Inductor Product Offering: FY THIN FILM INDUCTORS: MARKET OPPORTUNITIES: Ultra-Hi-Q Market Drivers (1 to 2.9 GHz): FY Super Hi-Q Market Drivers (3.1 to 30 GHz): FY Extremely Hi-Q Market Drivers (31 to 300 GHz): FY Opportunities for Thin Film Ceramic Chip Inductors By End-Use Market Segment: FY Ceramic Chip Inductor Demand By End-Use Market Segment: FY Opportunities for Thin Film Inductors by World Region: FY Greater China: FY Japan: FY Europe: FY 2016:

7 Americas: FY 2016: Opportunities for Thin Film Inductors By Chip Case Size (EIA Footprint): FY High Frequency Ceramic Chip Inductor Market by Case Size: FY Ceramic Chip by Case Size: FY 2016: Thin Film Versus Thick Film Inductor Comparison Next Generation OO8004 Case Size Market Outlook: FY O1OO5 Case Size Markets: FY O2O1 Case Size Markets: FY O4O2 Case Size Markets: FY O6O3 Case Size Markets: FY O8O5 Case Size Markets: FY Opportunities for Thin Film Inductors In Low Profile Chip Applications Low Profile MLCI and Thin Film Chip Inductors: 2016 By Case Size (In mm) Technology Leadership in the and Low Profile Chip Inductors: FY Technology Leadership in the 0201 to 0805 Low Profile Chip Inductors: FY Low Profile Inductors: Thickness Comparison: Thin Versus Thick Film FY 2016 Trend Ceramic Chip Inductor Markets By Inductance Range (Nanohenry nh Profit Centers): FY Maximum Inductance Capabilities By Chip Inductor Case Size: FY 2016 (in nh): Trends in nano-henrie requirements in ultra-small case size ceramic chip inductors: FY Thin Film Inductor Chips By Inductance Value- Comparison With Thick Film Chips: FY Ceramic Chip Inductors: Demand By Q Range: Technology Trends & Directions: Q Factor in Ceramic Chip Inductors by Case Size (Thin and Thick Film): FY High Frequency Inductor Markets By Minimum Q Factor: FY Point of Product Differentiation: Ceramic Chip Inductor and Extremely High Q Factor Chips Thin Film Inductor Chips By Q Factor- Comparison With Thick Film Chips: FY Market Opportunities for Thin Film Inductors By Maximum Rated Current: Maximum Rated Current By Ceramic Chip Inductor Case Size: FY 2016: Global Market Estimates for High Frequency Ceramic Chip Inductors By Rated Current: FY Estimated Ceramic Inductor Consumption Value by MilliAmp Range: FY Thin Film Inductor Chips By Rated Current- Comparison With Thick Film Chips: FY THIN FILM INDUCTORS: MARKET FORECASTS: Forecasts: Global Consumption Value for Ceramic Chip Inductors: Thin Film Ceramic Inductor Market Forecasts (Value, Volume and Pricing): FY Wireless Handset Markets for Ceramic Inductors: Value, Volume and Pricing Forecasts: FY Computer Markets for Ceramic Inductors: Value, Volume and Pricing Forecasts: FY Consumer Audio and Video Imaging and Home Theatre Markets for Ceramic Inductors: Automotive and Transport Markets for Ceramic Inductors: Value, Volume and Pricing Forecasts: FY

8 Specialty Markets for Ceramic Inductors: Value, Volume and Pricing Forecasts: FY Specialty Ceramic Inductor Market Outlook in Wireless Base Stations: FY Specialty Ceramic Inductor Market Outlook in Medical Test & Scan Equipment: FY Specialty Ceramic Inductor Market Outlook in Defense & Aerospace: FY Specialty Ceramic Inductor Market Outlook in High Q Semiconductor Manufacturing Equipment: FY Ceramic Inductor Markets: Forecasts By Frequency Band: FY Ultra-High Frequency: Decimeter Band: Emerging Markets in The Decimeter Band for Ceramic Inductors: FY SHF Super-High Frequency Markets: Emerging Markets in The Centimeter Band for Ceramic Inductors: FY EHF Extremely High Frequency Markets Emerging Markets in The Millimeter Wave Band for Ceramic Inductors: FY Future Markets In THz Frequencies: Forecasted Growth in Ceramic Inductors By Frequency Range: FY Ultra-High Frequency Ceramic Inductors (1.0 to 3.0 GHz): Global Market Forecast: FY Super-High Frequency Ceramic Inductors (3.1 to 30 GHz): Global Market Forecast: FY Extremely -High Frequency Ceramic Inductors (31 to 300 GHz): Global Market Forecast: FY THIN FILM INDUCTOR VENDORS: AEM AEM, Inc AEM, Inc.: Company Overview: AEM, Inc. Revenue Estimates: AEM, Inc. Corporate History: AEM, Inc.: Accolades & Achievements AEM, Inc.: HRB / DSCC Hi-Rel Ferrite Chip Beads AEM Components Inc.: Thick Film Inductor Product Offering: FY AEM Components Inc.: Thin Film Inductor Product Offering: FY AVX AVX Corporation Introduction To AVX Corporation: AVX Corporation: RF/Microwave Products AVX Corporation: Thin-Film RF/Microwave Inductor Technology- Accu-L AVX Corporation: Thin Film Inductor Product Offering: FY AVX Corporation: Thick Film Inductor Product Offering: FY

9 CHILISIN Chilisin Electronics Corporation (2456 TT) Chilisin Electronics Corp. Company Description: Chilison Electronics Corp. Revenue Analysis: CY Chilisin Electronics Corp (2456: Taiwan) Annual Revenues and Forecasts Chilisin Electronics Corp.: Sales By Region: Chilisin: Thick Film Inductor Product Offering: FY Chilisin: Thin Film Inductor Product Offering: FY CYNTEC Cyntec Company Limited About Cyntec Company Limited Cyntec: Thin Film Ceramic Inductor Product Line: FY DARFON Darfon Electronic Corporation About Darfon: Darfon: Thick Film Ceramic Chip Inductor Product Offering: FY Darfon: Thin Film Ceramic Chip Inductor Product Offering: FY MURATA Murata Manufacturing Company Limited (RIC: 6981): Murata Manufacturing: About This Company Murata Manufacturing: Revenue Trends: Murata Manufacturing: Revenue Trends By End-Use Market Segment: Murata Manufacturing: Recent Developments In Inductors (Expansion of Okayama; Merger with TOKO): Murata Manufacturing: Technology Trends in Inductors: Murata: Thick Film Ceramic Chip Inductor Product Offering: FY Murata: Thin Film Ceramic Chip Inductor Product Offering: FY SUNLORD Shenzhen Sunlord Electronics Co., Ltd Shenzhen Sunlord: Company Overview: Shenzhen Sunlord: Revenue Growth: Shenzhen Sunlord: New Product Developments in Inductors: Sunlord: Thin Film Ceramic Chip Inductor Product Offering: FY TAIYO YUDEN

10 Taiyo Yuden Company Limited (RIC: 6976): Taiyo Yuden: Company Overview: Taiyo Yuden: Total Revenues and Ferrite and Applied Materials Revenues: FY Annual Revenues For Taiyo Yuden s Ferrite and AP Group: ; 2015 Forecasts Taiyo Yuden: Trends and Directions in Discrete Inductors Taiyo Yuden: Thick Film Ceramic Chip Inductor Product Offering: FY TDK TDK Corporation (RIC: 6762): About TDK Corporation: Annual Revenues for TDK s Inductors Group: FY TDK Corporation; Inductors Group: Annual Revenues: ; 2015 Forecasts TDK: Thick Film Ceramic Chip Inductor Product Offering: FY TDK: Thin Film Inductor Development: FY 2017 to FY TOKEN Token Electronics Industry Co., Ltd About Token: Token: Ceramic Thin Film Inductor Product Offering: FY Token: Thick Film Inductor Product Offering: FY VIKING Viking Tech Corporation About Viking Technology Corp.: Viking: Thin Film Inductor Product Offering: FY VISHAY Vishay Intertechnology (NYSE:VSH) Vishay Intertechnology: Company Overview Vishay Annual Resistor & Inductors Group Revenues: ; 2015 Forecasts Vishay s Inductor Business Group: Vishay-Dale: Thick Film Ceramic Chip Inductor Product Offering: FY Vishay-Dale: Thin Film Ceramic Chip Inductor Product Offering: FY FIGURE 1: GLOBAL CONSUMPTION VALUE FOR DISCRETE INDUCTOR, COILS AND CORES BY CONFIGURATION: FY 2016 (SURFACE MOUNT, THROUGHOLE AND CORE) FIGURE 2: GLOBAL CONSUMPTION VALUE FOR SURFACE MOUNT INDUCTORS BY TYPE: FY FIGURE 3: HIGH FREQUENCY CERAMIC CHIP INDUCTOR MARKETS BY TYPE: (THICK VERSUS THIN FILM): FY

11 FIGURE 4: HIGH FREQUENCY CERAMIC CHIP INDUCTORS: COMPETITION BY CASE SIZE: (THICK VERSUS THIN FILM): FY FIGURE 5: MINIMUM THICKNESS OF THIN FILM CHIP INDUCTORS: 2016 BY CASE SIZE (IN MM) FIGURE 6: CERAMIC VENDORS BY CASE SIZE AND INDUCTOR THICKNESS (THICK AND THIN FILM): FY FIGURE 7: MAXIMUM INDUCTANCE CAPABILITIES BY CHIP INDUCTOR CASE SIZE: FIGURE 8: COMPETITIVE ENVIRONMENT IN CERAMIC CHIP INDUCTORS BY CASE SIZE AND INDUCTANCE RANGE: O1OO5 CASE SIZE (0.2 TO 47 NH) FIGURE 9: COMPETITIVE ENVIRONMENT IN CERAMIC CHIP INDUCTORS BY CASE SIZE AND INDUCTANCE RANGE: O2O1 CASE SIZE (47 TO 100 NH) FIGURE 10: COMPETITIVE ENVIRONMENT IN CERAMIC CHIP INDUCTORS BY CASE SIZE AND INDUCTANCE RANGE: O4O2 CASE SIZE (101 TO 330 NH) FIGURE 11: COMPETITIVE ENVIRONMENT IN CERAMIC CHIP INDUCTORS BY CASE SIZE AND INDUCTANCE RANGE: 0603 CASE SIZE (331 TO 680 NH) FIGURE 12: COMPETITIVE ENVIRONMENT IN CERAMIC CHIP INDUCTORS BY CASE SIZE AND INDUCTANCE RANGE: O8O5 CASE SIZE (LEGACY PART) FIGURE 13: TECHNOLOGY TRENDS & DIRECTIONS: Q FACTOR BY CERAMIC CHIP CASE SIZE: FY FIGURE 14: HIGH FREQUENCY CERAMIC CHIP INDUCTOR MARKET BY MINIMUM Q FACTOR: FY FIGURE 15: 2 TO 3 MINIMUM Q FACTOR AND COMPETITIVE ENVIRONMENT: LEADING EDGE IN INDUCTIVE TECHNOLOGY FIGURE 16: 4 TO 8 MINIMUM Q FACTOR AND COMPETITIVE ENVIRONMENT: FY FIGURE 17: 9 TO 12 MINIMUM Q FACTOR AND COMPETITIVE ENVIRONMENT: FY FIGURE 18: 13+ MINIMUM Q FACTOR AND COMPETITIVE ENVIRONMENT: FY FIGURE 19: MAXIMUM RATED CURRENT IN MILLIAMPS (MA) FOR MULTILAYERED AND CERAMIC THIN FILM INDUCTORS BY CASE SIZE: FY FIGURE 20: ESTIMATED CERAMIC INDUCTOR CONSUMPTION VALUE BY MILLIAMP RANGE: FY FIGURE 21: COMPETITION IN THE 80 TO 350 MA RANGE IN CERAMIC INDUCTORS: FY FIGURE 22: COMPETITION IN THE 351 TO 470 MA RANGE IN CERAMIC INDUCTORS: FY FIGURE 23: COMPETITION IN THE 471 TO 900 MA CERAMIC CHIP INDUCTOR MARKETS: FY FIGURE 24: COMPETITION IN THE 900 TO 1200 MA CERAMIC CHIP INDUCTOR MARKETS: FY FIGURE 25: COMPETITION IN THE LEGACY CERAMIC CHIP INDUCTOR MARKETS: FY FIGURE 26: THIN FILM CERAMIC CHIP INDUCTOR VENDORS: FY 2016 SALES AND MARKET SHARES FIGURE 27: MURATA: THIN FILM INDUCTOR PRODUCT OFFERING BY CASE SIZE AND PERFORMANCE CRITERIA FOR FY FIGURE 28: AVX: THIN FILM INDUCTOR PRODUCT OFFERING BY CASE SIZE AND PERFORMANCE CRITERIA FOR FY FIGURE 29: VISHAY-DALE: THIN FILM INDUCTOR PRODUCT OFFERING BY CASE SIZE AND PERFORMANCE CRITERIA FOR FY FIGURE 30: TOKEN: THIN FILM INDUCTOR PRODUCT OFFERING BY CASE SIZE AND PERFORMANCE CRITERIA FOR FY FIGURE 31: AEM: THIN FILM INDUCTOR PRODUCT OFFERING BY CASE SIZE AND PERFORMANCE CRITERIA FOR FY FIGURE 32: DARFON: THIN FILM INDUCTOR PRODUCT OFFERING BY CASE SIZE AND PERFORMANCE CRITERIA FOR FY FIGURE 33: VIKING: THIN FILM INDUCTOR PRODUCT OFFERING BY CASE SIZE AND PERFORMANCE CRITERIA FOR FY FIGURE 34: VIKING: THIN FILM INDUCTOR PRODUCT OFFERING BY CASE SIZE AND PERFORMANCE CRITERIA FOR FY FIGURE 35: CYNTEC: THIN FILM INDUCTOR PRODUCT OFFERING BY CASE SIZE AND PERFORMANCE CRITERIA FOR FY FIGURE 36: HIGH FREQUENCY BANDS AND RELATED NOMENCLATURE FIGURE 37: ULTRA HI-Q MARKET DRIVERS (1 TO 2.9 GHZ): FY FIGURE 38: HI-Q MARKET DRIVERS (3.1 TO 30 GHZ): FY FIGURE 39: EXTREMELY HI-Q MARKET DRIVERS (3.1 TO 30 GHZ): FY

12 FIGURE 40: GLOBAL CONSUMPTION VALUE FOR MULTILAYERED CERAMIC CHIP CAPACITORS BY END-USE MARKET SEGMENT: FY FIGURE 41: GLOBAL CONSUMPTION VALUE FOR CERAMIC CHIP CAPACITORS BY WORLD REGION: FY FIGURE 42 CERAMIC CHIP BY CASE SIZE: FY 2016: THIN FILM VERSUS THICK FILM INDUCTOR COMPARISON FIGURE 43: HIGH FREQUENCY CERAMIC CHIP INDUCTOR MARKETS BY CASE SIZE: (O1OO5, O2O1, O4O2, O6O3, O8O5, OTHER): FY FIGURE 44: MINIMUM THICKNESS OF MLCI AND THIN FILM CHIP INDUCTORS: 2016 BY CASE SIZE (IN MM) FIGURE 45: LOW PROFILE INDUCTORS: THICKNESS COMPARISON: THIN VERSUS THICK FILM FY 2016 TREND FIGURE 45 LOW PROFILE CERAMIC CHIP INDUCTORS: FY 2016: THIN FILM VERSUS THICK FILM INDUCTOR COMPARISON FIGURE 45: MAXIMUM INDUCTANCE CAPABILITIES BY CHIP INDUCTOR CASE SIZE: FIGURE 48: THIN FILM INDUCTOR CHIPS BY INDUCTANCE VALUE- COMPARISON WITH THICK FILM CHIPS BY CASE SIZE: FY FIGURE 47 LOW PROFILE CERAMIC CHIP INDUCTORS: FY 2016: THIN FILM VERSUS THICK FILM INDUCTOR COMPARISON FIGURE 46: TECHNOLOGY TRENDS & DIRECTIONS: Q FACTOR BY CERAMIC CHIP CASE SIZE: FY FIGURE 47: HIGH FREQUENCY CERAMIC CHIP INDUCTOR MARKET BY MINIMUM Q FACTOR: FY FIGURE 52: THIN FILM INDUCTOR CHIPS BY Q FACTOR: COMPARISON WITH THICK FILM CHIPS: FY FIGURE 53: THIN FILM INDUCTOR CHIPS BY Q FACTOR: COMPARISON WITH THICK FILM CHIPS: FY FIGURE 48: MAXIMUM RATED CURRENT IN MILLIAMPS (MA) FOR MULTILAYERED AND CERAMIC THIN FILM INDUCTORS BY CASE SIZE: FY FIGURE 49: ESTIMATED CERAMIC INDUCTOR CONSUMPTION VALUE BY MILLIAMP RANGE: FY FIGURE 56: THIN FILM INDUCTOR CHIPS BY RATED CURRENT AND EIA CHIP CASE SIZE: COMPARISON WITH THICK FILM CHIPS: FY FIGURE 57: THIN FILM INDUCTOR CHIPS BY RATED CURRENT: COMPARISON WITH THICK FILM CHIPS: FY FIGURE 50: CERAMIC CHIP INDUCTORS: GLOBAL MARKET FORECASTS FOR CONSUMPTION: FY FIGURE 51: CERAMIC INDUCTOR FORECASTS BY FREQUENCY RANGE: FY

13 About the Author: Mr. Zogbi is president and CEO of Paumanok Publications, Inc., a market research company located in Cary, North Carolina specializing in market research studies, consulting, mergers and acquisitions, conferences and seminars with emphasis upon passive electronic components. Mr. Zogbi has 360 customers worldwide in the field of market research on capacitors, resistors, inductors, circuit protection and related components and their respective engineered raw materials. Mr. Zogbi also engages in single client research related to new product development, due diligence for mergers and acquisitions and for establishing business growth for passive component companies worldwide. Dennis M. Zogbi Paumanok Publications, Inc. 502 Ballad Creek Court Cary, NC USA (919) (919) Fax 12

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