Semiconductor Capital Equipment Market Information Technology Essay

Semiconductor Capital Equipment Market Information Technology Essay Rudolph Technologies Inc. (RTEC) is a global leader engaged in the design, development and manufacture of high-performance process control defect inspection, metrology, and process control software systems used by semiconductor device manufacturers. The company provides a complete yield management solution to chip makers through a mix of hardware, software, and services. The three main lines of business comprise metrology, inspection and data analysis, and review. The metrology system evaluates composition, thickness, and other properties of transparent and opaque films to ensure that the material does not get too thick or too thin. The inspection system looks for defects such as tiny scratches or gouges in the surface of a silicon wafer, while the process control software offerings turn raw data collected during the production process into useful information. The company generated revenues of $78.7 million in 2009, with inspection systems sales contributing nearly 50%. The company s ells products to over 90 customers comprising of logic, memory, data storage, and application-specific integrated circuit (ASIC) device manufacturers located in 20 countries; among them Intel Corp accounts for around 14% of total sales. The company generates nearly three-quarters of sales outside the US, primarily in Asia. Rudolph has extensive world-wide network of direct sales, customer service and application support offices, while its manufacturing facility is situated in Bloomington, Minnesota. In highly competitive semiconductor capital equipment market, the company competes with several established companies, principal among them are KLA-Tencor and Camtek. Flanders, New Jersey headquartered Rudolph employs around 497 personnel. The companys common shares trade on NASDAQ Global Select Market under the symbol RTEC. Company Background Rudolph Technologies was incorporated under the laws of New Jersey in 1958, and reincorporated in Delaware in 1999. The companys origins can be traced back to 1940, when Otto Curt Rudolph formed O.C. Rudolph Sons to import microscopes and scientific instruments, which was later renamed as Rudolph Research Corp. In 1977, the company launched the industrys first production-oriented ellipsometer for thin-transparent film measurements. Since then, through its engineering expertise and continuous investment in research and development, the company has broadened its portfolio with several new innovative products covering metrology, inspection and analysis solutions. In June 1996, Riverside Partners and Liberty Partners made major investments in the company to support its expansion in the semiconductor metrology market. To reflect the companys new strategic focus and plans for metrology, its name was changed to Rudolph Technologies. Three years later, in November 1999, Rudolph went public with its initial public offering 4.8 million common shares. The acquisition of ISOA Inc. in July 2002 added inspection and classification systems to the companys product portfolio, while the companys merger with August Technology Corp. in February 2006 further strengthened its position in macro defect detection and analysis markets. To be a complete supplier of back-end equipment and software, the company acquired the semiconductor business of Applied Precision LLC in December 2007, and the wafer scanner product line from RVSI Inspection LLC in January 2008. These acquisitions expanded the companys product offerings to precision wafer probe card metrology systems, wafer probe process management systems, and 2D/3D macro defect inspection. In august 2009, Rudolph became second largest supplier of process control software solutions with the acquisition of Adventa Control Technologies Inc. The acquisition of Adventa widened its software presence with a wide range of technologies including tool automation, run-to-run control, and fault detection and classification. Inorganic growth being an important part of the companys strategic growth plan, the management intends increase revenue and earnings with additional purchases during upcoming quarters. Table 1: RTECs subsidiaries Products and Services Rudolph is engaged in the engaged in the production and sales of macro-defect inspection, metrology and process control software systems used by semiconductor device manufacturers. These process diagnostics and control equipments provide solutions for both front-end and back-end semiconductor manufacturing processes. Over the years, the company has reduced its dependence on front-end metrology market by adding defect inspection system, and process control software to its portfolio. At present, the company derives majority of revenue through the sales of inspection systems, followed by metrology and software systems. Source: Company Filing, RODM Research Inspection Systems The companys inspection equipment looks for defects not visible to the human eye, such as tiny scratches or gouges on the surface of a silicon wafer. The company is believed to be a market leader in both front-end wafer processing and final manufacturing inspection systems. The company entered into the macro-defect inspection market in September 2002 with the acquisition of ISOA Inc., a Texas-based OEM of defect inspection tools for lithography and chemical mechanical planarization (CMP) processes. Since that, the share of inspection system sales in total revenue has increased significantly to reach 48% in FY2009. The company offers a wide range of macro-defect (defects greater than 0.5 micron) inspection systems for detection of front side, edge and backside defects during both front-end wafer processing and back-end IC manufacturing. AXi 940 Module B30 Module Explorer Inspection Cluster NSX Series PrecisionWoRx VX4 System WaferWoRx 300 System Inspection Test Systems Introduced Functionality Type of Fab Front-end Back-end AXi  Module 2003 Advanced detection of defects >0.5 micron Inspection of patterned and unpatterned wafers In line, high-speed, 100% inspection Full color review and waferless recipe creation à ¢Ã‹â€ Ã… ¡ E30  Module 2003 2D defect detection of the wafers edge Metrology of edge feature Incorporated into the Explorer Cluster à ¢Ã‹â€ Ã… ¡ à ¢Ã‹â€ Ã… ¡ B30  Module 2003 2D defect detection of the wafers backside Darkfield, brightfield and color imaging Incorporated into the Explorer Cluster à ¢Ã‹â€ Ã… ¡ à ¢Ã‹â€ Ã… ¡ Explorer  Inspection Cluster 2009 A family of multi surface inspection tools, using one or more inspection modules Automated handling platform Intelligent wafer scheduling à ¢Ã‹â€ Ã… ¡ NSX  Series 1997 Fully automated defect detection >0.5 micron 2D wafer, die bump inspection In line, high-speed, 100% inspection à ¢Ã‹â€ Ã… ¡ Wafer Scanner Series 1999 2D/3D bump dimensional inspection 2D bump/surface defect inspection In line, high-speed, 100% inspection à ¢Ã‹â€ Ã… ¡ PrecisionWoRx 2008 Probe card test analysis Configurable channels High load forces à ¢Ã‹â€ Ã… ¡ ProbeWoRx 2003 Probe card production metrology 3D Optical Comparative Metrology High-speed test times Automated, one-touch measurements à ¢Ã‹â€ Ã… ¡ WaferWoRx 2006 Probing process analysis 3D probe tip analysis Proprietary, advanced software à ¢Ã‹â€ Ã… ¡ PrecisionPoint 2002 Probe card analyzer Tests devices simultaneously Upgradable à ¢Ã‹â€ Ã… ¡ Metrology System Metrology equipment monitors layers of conducting and insulating materials on silicon wafers to ensure that the material doesnt get too thick or too thin. Rudolph introduced the industrys first production-oriented microprocessor-controlled ellipsometer for thin transparent film measurements in 1977. The company currently offers a wide range of metrology systems that measures both transparent and opaque thin-films during front-end fabrication process. The percentage share of metrology systems in total revenue has come down from 63% in FY2005 to 11% in FY2009 as the company has diversified into other higher-margin products including inspection system. MetaPULSE Series The companys MetaPULSE series of metrology systems uses picosecond ultrasonic laser sonar (PULSE) technology for opaque film measurement. The companys patented optical acoustic metal film metrology technology simultaneously measures the thickness and other properties of up to six metal or other opaque film layers in a non-contact manner on product wafers. PULSE Technology uses an ultra-fast laser to generate sound waves that pass down through a stack of opaque films and sends back an echo to the surface that indicates film thickness, density, and other process critical parameters. The company has sold nearly 200 MetaPULSE systems worldwide; the majority of them have been deployed for copper applications as this technology is ideal for characterizing copper interconnect structures. Introduced in 1997, the MetaPULSE was the first, and remains the market dominant, non-contact production metrology system for thin opaque films, currently used by all of the ten largest semiconductor produc ers. The average selling price ranges from $1.0 to $2.0 million per system. S3000 Series MetaPULSE-III System MetaPULSE System MetaPULSE-IIIa System S3000 CD System S3000S SystemIntroduced in 2006, the companys S3000 series of metrology equipments incorporates ellipsometry technology for transparent film measurement. Ellipsometry is a non-contact, non-destructive optical technique that measures the thickness and properties of transparent thin films applied to wafers during the device formation process. The companys patented ellipsometry technique uses four lasers simultaneously for multiple-angle of incidence and multiple wavelength ellipsometry, providing strong analysis and measurement capabilities for newly introduced thinner films and newer materials for future generations of semiconductor devices. Compared to the white-light sources used in spectroscopic ellipsometers, the laser light sources increase the level of accuracy and speed of the companys transparent film systems. Some of the systems combine ellipsometry with reflectometry tool to analyze films that require a broader spectral coverage. The companys transparent film measurement sys tems are available in a price range about $250 k to $1.0 million per system. Process Control Software Along with inspection and metrology systems, Rudolph also offers a suit of yield management and process control software, making it a complete yield management solution provider to semiconductor manufacturers. The company offers a comprehensive range of software for front-end fabs, back-end packaging facilities and photovoltaic market. The software collects the vast amount of data through automated inspection of fab process, which can be analyzed to determine trends that eventually improve yield. The type of software offered includes equipment automation software, tool-monitoring and fault detection software, equipment control software, yield and defect management software, and defect analysis and data management software. The acquisition of Adventa Control Technologies in August 2009 added several software systems to the companys portfolio, making it the second largest supplier of process control software solutions for chip makers, as per Gartner Dataquest. The company now supplies a broad range of Advanced Process Control technologies specifically for tool automation, run-to-run control and fault detection and classification, all designed to enable chip makers to increase capacity and yield and to reduce rework and scrap. Advanced Process Control utilizes software to automatically detect or predict tool failure and calculate recipe settings for a process that will drive the process output to target regardless of variations in the incoming material and disturbances within the process equipment. In FY2009, software licensing generated revenue of $6.7 million, accounting for 8.5% of total revenue. Industry Analysis Semiconductor Capital Equipment Market Rudolphs business is primarily driven by the annual spending patterns of semiconductor companies on capital equipments which, in turn, is dependent on other drivers such as the sales of PCs, mobiles and other electronic devices. Worldwide, capital equipment spending has been on a decline during the past 3 years due to the continued strong DRAM investments in 2007, when the market was experiencing oversupply, slower NAND spending growth, and disappearance of foundry capital spending. Subsequently, capital equipment spending eroded nearly 64% to $16.3 billion in 2009 from the 2007 levels, according to Gartner. However, equipment spending is expected to increase 56% to $25.4 billion in 2010 following the broad recovery in the semiconductor industry revenues, and related investment in the foundry and memory markets. In addition, the advancement of new technology nodes will drive the future spending. Gartner estimates an average 20% annual growth in capital equipment spending between 2009 and 2013. Wafer fab equipment spending, which accounts for almost three-fourths of total capital equipment expend is currently driven by advancements in memory technologies and related upgrades. The overall capacity utilization rates continue to run at 80-90% levels, while leading edge utilization rates will hit 90-95% by the end of 2010, which will power strong capacity additions by 2011. Process control equipment market Process control equipments are primarily used to measure the accuracy of the features of a wafer throughout the process flow, and inspect for any defects during the wafer fabrication process. Semiconductor manufacturing costs continue to rise as chip design is becoming smaller and more complex, leading to more time consumption and higher defects Complex chip designing not only increases the cost of buidling a fab, but the higher costs, in turn, increase production with imrpoved yeilds for superior profits and ROI. And this can be achieved by process control equipment which we believe is very critical to increase production yield, and minimize defects. In line with the downturn in semiconductor capital spending, the process control equipment spending declined 44% to $1.75 billion in 2009 from the 2008 levels, which had plunged 32% from $4.6 billion in 2007. However, as a percentage of total semiconductor equipment spending, the expend on process control equipment has increased magrinally from 10% in 2004 to 10.7% in 2009, indicating that this market conitnues to outpace overall semicondicutor capital spending. According to Gartners estimates, process control equipment spending is expected to grow >50% to reach $4.5 billion by 2012. Source: Gartner, Rodman Renshaw Research In terms of overall market share, KLA-Tencor dominates with ~50% market share followed by Hitachi and Applied Materials with 15% and 11%, respectively. Although a market leader in several segments, Rudolph is a tier-2 player holding an 2% share. Source: Gartner, Rodman Renshaw Research As a leading supplier of process control equipment for the semiconductor industry, Rudolph serves the macro defect inspection (both front-end and back-end), thin film metrology, and data analysis segments of the process control market. Macro Defect Inspection Macro defect inspection is one of the oldest metrology processes involved in the identification of defects of 0.5 microns and greater. Earlier, inexpensive manual techniques such as microscopes and cameras were the mainstay for identifying scratches, residual material, wafer edge irregularities, and several inspectors were employed at each process level. This compounded the cost of production and compelled production managers to resort to sampling where ~20% of the wafers in-line was inspected. Again, the limitations of this sample strategy restricted the ability to reduce errors leading to increasing number of misprocessed wafers to be scrapped. In response, automated macro defect equipments were introduced which made inspection (100%) both technically and economically feasible. The adoption of automated macro defect equipments has transformed this market into one of fastest growing sub-segments in the entire semiconductor capital equipment industry. Presently, the adoption of automated defect inspection is driven by the industry shifting to 300 mm wafers; where the wafers have more than 2X of the size and number of die compared to 200 mm. With larger wafers size, more chips are produced per wafer and, therefore, automated inspection improves the frequency of detecting defective chips, necessitating the use of automated defect inspection. An automated tool has a throughput of 120 wafers per hour compared, nearly double the manual inspection. We believe that as more devices continue to manufacture on 300mm wafers, the demand for automated macro defect inspection tools will enhance in the future. Macro defect inspection is classified into two sub-segments: 1) front-end inspection in wafer manufacturing; and 2) back-end inspection in packaging and assembly. Front-end macro inspection: The front-end inspection takes place at the front-end of manufacturing stages such as lithography, deposition, post-etches, post-clean, and CMP. Front-end macro inspection technique includes a) front-side inspection b) back-side inspection c) edge inspection; and d) surface inspection. Back-end macro inspection: The back-end inspection takes place in the assembly and final test phase of the manufacturing process which includes probe mark and bump inspection. Source: Gartner, Rodman Renshaw Research The front-end macro defect inspection market declined 44% to $50 million in 2009, in line with the decline in the overall semiconductor equipment spending. Gartner estimate this market to reach $215 million by 2012, growing at >100% annually between 2009 and 2012. In terms of market share, Rudolph is the market leader with a ~50% market (enhanced after August Technology acquisition in 2006) followed by KLA-Tencor and Nikon with a market share of xx% and xx%, respectively in 2009. The back=end macro defect inspection participates in the $20 billion Outsourced Assembly and Test (OSAT) market, where Rudolph is the number one provider of inspection solutions, where all of it is from August Technology acquisition. Rudolph has a 34% market share in the back-end market, follwed by Camtek and Hitachi with 23% and 13%, respectively. Thin Film Metrology Metrology tools are used to measure and examine characteristics such as thickness and electrical properties of a wafer to maintain uniformity across the manufacturing process. These tools can be classified into metal film metrology and transparent film metrology. Metal film metrology is used to measure the thickness of each individual metal layer on a wafer; while transparent film metrology uses a process called ellipsometry to measure the thin films properties. Rudolph has pioneered in transparent thin film market launching the industrys first ellipsometer based thin film metrology equipment. The thin film metrology market stood at $169 million in 2009, down 43% compared to 2008, in line with downturn in the overall semiconductor equipment market. In terms of market share, Rudolph dominates the metal metrology market with a 90-95% share. KLA-Tencor is the market leader in the transparent film metrology market with a 70% share and Rudolph followed with 8% in 2009. Source: Gartner, Rodman Renshaw Research The metrology market is currently driven by the transition of copper interconnect metallization into both DRAM and NAND memory market. Essentially, the fundamental shift to copper as a conductor material from aluminum is because an increasing number of semiconductor devices are being designed with more interconnect layers, since aluminum interconnects limit the overall chip speed. Whereas, copper interconnects handle geometries as small as 45 nm with more than 10 layers of interconnect circuitry and with higher speeds. Industry majors such as Samsung and Toshiba are progressing in the transition, indicating a substantial market opportunity. We believe Rudolph will be among the beneficiaries when memory suppliers transition to copper in the manufacturing process. The migration from 65nm to 45nm will require high-end metrology tools to measure the thickness of the copper layers. Being a market and technology leader, Rudolphs MetaPULSE solutions will experience gargantuan demand in the market, which has been very successful with leading memory suppliers such as Intel and AMD. Company Analysis A one-stop shop solution provider for yield improvement Rudolph Technologies presence across the value chain in the semiconductor manufacturing process is strengthened by its diversified product portfolio of metrology, macro inspection and software solutions. The transition from being a pure metrology company to a more diversified process control equipment and software provider has consolidated its presence in both wafer processing (front-end manufacturing), and packaging and testing (back-end manufacturing) with revenues from the former accounting for 60% ($47.19 MM) and the latter with 40% ($31.46 MM). Revenues from the metrology stream stood at $19.66 MM or 25% of the total revenue during 2009; while the inspection and software segments generated $47.2 MM and $11.8 MM, contributing 60% and 15%, respectively toward total revenues. The semiconductor device formation is referred to as front-end manufacturing wherein the raw wafer is subject ot various processes such as oxidation, lithography, diffusion processing, ion implanting etching, photo resist coating, washing, and chemical mechanical planarization (CMP) to develop into a silicon wafer that contains multiple copies of integrated circuit devices. After the device formation stage, the back-end processing (usually outsourced to contract manufacturers) starts to fabricate the finished product or integrated circuit for the customer. The back-end processing starts with parametric testing and functional testing following by the packaging process which includes polishing, back grinding, die attaching, wire bonding, and hermetic sealing. Diversified product portfolio (present across the value chain) Source: Company Presentation The companys presence in the entire value chain of semiconductor manufacturing process not only diminishes the risk of exposure to the dynamics of single market, it also weathers the cyclicality inherent in the semiconductor industry. The successful transition from front-end metrology to a total solution provider has resulted in a much more balanced mix of product portfolio with exposure to both front-end and back-end process. This helps the company to overcome the industry cycles that always do not move in sync (refer chart book-to-bill ratio).Front-end manufacturing is driven by technology changes, while back-end manufacturing is driven by unit volume growth (market demand). The difference in the demand drivers for the front-end and back-end manufacturing equipments can also be validated by analyzing the book-to-bill ratio over the past two years, which clearly indicates the cyclicality. Book-to-bill ratio Source: Company Presentation Financial Performance Over the years, Rudolph has transformed from being a front-end metrology system producer to a total solution provider to semiconductor device manufacturers through a mix of proprietary hardware, software, and service offerings. During 2008 and 2009, semiconductor equipment market experienced a downturn as semiconductor device makers reduced their capital spending due to the global economic crisis. In line with the industry, Rudolphs revenue also declined, although at a rate slower than that of the industry. When the downside in the global semiconductor equipment market was approximately 46.0% year-over-year in 2009, as per a Gartners study, Rudolphs revenue was down 40.0% compared to the prior year. The companys revenue in FY2009 stood at $78.7 million compared to $131.0 million past year, while the gross profit was $28.9 million over $43.7 million a year ago. Consequently, the company incurred a higher adjusted net loss of $14.1 million or $0.46 per share as against a loss of $2.4 m illion or $0.08 per share. A majority of the revenue is derived from macro-defect inspection system sales, which represented 48.3% of the total earnings in FY2009. Rudolphs strategy for continued technological and market leadership is largely on its diversified revenue sources from just the front-end metrology system in 1999 to include higher margin macro-defect inspection system and software licensing in its portfolio, thus circumventing the risk of depending on a single market. The share of inspection system and software sales has increased from 14.0% and 1.5% in FY2005 to 48.3% and 8.5%, respectively in FY2009, whereas that of the metrology system dropped from 63.4% to 11.3% during the same period. The company also generates revenue from spare parts sales and services including maintenance service contracts, system upgrades, as well as time and material billable service calls. Revenue from the sale of spare parts and services accounted for 19.6% and 12.2% of total revenue in FY2009, respectively. Rudolph derives a significant portion of its revenue from customers outside of the US, specifically from Asia. In 2009, it derived 72.4% of its revenue from outside of the US, of which 60.8% was generated in Asia, and 11.6% was derived from Europe. Going ahead, we believe that the revenue generated from Asia will be a substantial percentage of the total earnings, as a Garner estimate forecasts the semiconductor capital equipment market in the Asia-Pacific region to outpace other regions over the next five years. The rebound in the global economic and capital spending in the semiconductor industry, surged the companys revenue for 1Q FY10 more than three-fold to $40.6 million from $11.1 million in the earlier year quarter. Capacity additions by major foundries in Taiwan and elsewhere, and increase in capital spending by memory manufacturers supported the revenue growth. The inspection business represented 68% of revenue, while metrology and software businesses accounted for nearly 23% and 9%, respectively. However, the share of metrology business in overall revenue is likely to enhance based on the current capacity addition plans of tier-1 memory manufacturers and the anticipated increase in metrology spending by the foundry sector. We believe that the company is well positioned to benefit from improving business conditions in foundry, memory, and logic markets with its strategic balance of front-end and back-end business. Along with revenue, the companys margins also improved to 49.9% from 20 .6% in the comparable quarter of last year, supported by an increase in higher-margin inspection system sales. Although the expected higher contribution of metrology systems sales in overall revenue could impart a slightly negative impact on the companys gross margin during the upcoming quarters, it is likely to be offset by improved manufacturing efficiencies as the companys newly introduced products mature. The adjusted operating margin also returned to historical levels, which improved to 13.2% in 1Q FY10 from -78.0% a year ago. Finally, the company swung to a non-GAAP net income of $3.3 million or $0.11 per share from a non-GAAP net loss of $6.7 million or $0.22 per share during the corresponding quarter of the prior year. Rudolph usually invests the cash generated by operating activities into marketable securities, acquisition of businesses and capital assets. Inorganic growth has always be a key factor in the strategic growth plan. The company has acquired five businesses since 2002, the payment in all the cases was made through cash, either partly or the entire purchase price, thereby, minimizing stock dilutions. In 1Q FY10, the company generated operating cash flows of $6.8 million compared to an outflow of $4.0 million a year earlier. The company had cash and marketable securities of $67.1 million as of March 2010 which, we believe, is sufficient for the future capital expenditure, and supports the company to pursue its inorganic growth strategy. The balance sheet validates Rudolphs strong liquidity level as well as its debt-free position. The current ratio of 5.4 as of March 2010 affirms the companys ability to meet short-term payment obligations. The absence of debt will preclude financial risks during a downturn, and provide adequate flexibility in its operations. Although the accounts receivable at the end of 1Q FY10 surged 175.2% year-over-year to $40.8 million, it increased at a much lower rate than the revenue, which grew 267.3% during the same period. Days sales outstanding during 1Q FY10 reduced to 94 from 130 a year ago, and inventory days dropped to 311 from 336, thereby, improving cash generation. The cash conversion cycle has declined to 327 days from 377 days over the prior year quarter.

Advertising & Sales Promotion on Cement Industry

ASSIGNMENT ADVERTISING & SALES PROMOTION CEMENT INDUSTRY PROF. ANAND DESAI SATISHKUMAR BIRADAR Roll no 07 (MMM IV) The cement industry has come a long way since 1914 when the first cement plant was set up at Porbandar. In the past, the government's regulation restricted the growth of the Indian cement industry. The removal of these controls resulted in rapid progress in terms of new capacity creation and higher production. As of March 2012, the country had an installed cement capacity of around 325-330 million tonnes with most of the capacities being added only during the last decade. | Evolution of the cement industry The cement industry is one of India's core sectors. The country's first cement plant was set up in Porbandar, Gujarat in 1914. Earlier, the government regulated the industry with licensing, price and distribution controls. A gradual removal of these controls resulted in rapid capacity creation. Following this, the country moved from a cement scarcity situation to a sur plus position. As of March 2012, the pan India total installed cement capacity stood at around  325-330 million tonnes. Currently, India is the second-largest producer of cement in the world.The evolution of the cement industry in India can be broadly divided into three periods – the period of total government control (up to 1982), the period of partial decontrol (1982 to 1989) and the period of total decontrol (after 1989). Period of total government control Events during the period of government control This period marked the beginning of cement industry where government, with an intention to promote the sector, exercised strict control over the industry. It set out production limits, price as well as the distribution channels that should be employed to sell cement.This was aimed at ensuring fair prices to producers and consumers across the country, thus reducing regional imbalances. The fixed price at which producers would sell cement was based on the cost of production of cement throughout the country plus a marginal profit. This price contained a freight component that was averaged over the country as a whole. If the actual freight component of a manufacturer was lower than that included in the uniform price, producers had to pass on the amount to the pool sum, representing the difference between the uniform price freight component and the freight costs incurred by them.On the other hand, if the actual freight incidence was higher than the freight element accounted for in the uniform price, producers were reimbursed the difference. This freight pooling system encouraged producers to set up manufacturing plants across the country. Before this system, the industry was concentrated in the eastern part of the country where accesses to raw materials were readily available. However, a drawback of this system was the lack of incentive to producers to minimise costs since they would be reimbursed by the uniform pricing system.As a result, the average cos t of production as well as demand for scarce railway capacity increased. Period of partial government decontrol Events during the period of partial decontrol On account of inefficiencies of the uniform price system, the government introduced a system of partial decontrol in 1982. A levy quota of 66. 6 per cent for sales to the government was imposed on existing units while for new and sick units the quota was lowered to 50 per cent. The balance 33. 4 per cent could be sold in the open market to general consumers.A ceiling price was set for sales in the open market to protect consumers from unreasonable high pricing. During this period, cement producers were able to earn profits from the levy sale to government at fixed prices. But for the non-levy sales, profits decreased as there was a sudden increase in cement supply in the open market which led to greater competition among the manufacturers. During this period, the government gradually reduced the levy quota and increased retenti on prices  in order to  increase the profitability on sales in the open market.Period of total decontrol Events post decontrol In 1989, the government removed all price and distribution controls. The system of freight pooling was scrapped and a subsidy scheme, to ensure availability of cement at reasonable prices in remote and hilly regions, was implemented. This opened up opportunities in the industry and was marked by huge investments in the coming years. Industry structure As of March 2012, the total installed cement capacity  Ã‚  in India stood at approximately  325-330 million tonnes.The industry can be broadly classified into pan-India, regional and standalone players. Pan-India players include large players like Holcim group companies- ACC and Ambuja   and Aditya Birla group company- UltraTech Cement (including Samruddhi Cement)  . Companies of both these groups are adding capacities through either greenfield or brownfield expansions. Players whose presence is res tricted to one or two regions, with a stronghold in the markets of their respective operations are included in the category of regional players.Key examples of players included in this segment are Jaiprakash Associates (North and Central), Lafarge (concentrated in the East), India Cement (South), Shree Cement (North), Binani Cement (North), Kesoram Industries (South),  Chettinad Cement (South), Dalmia Cement (South), Madras Cement (South) etc. Players like Panyam Cement, Penna Cement, etc, are concentrated  and operational  in few states within a region. Owing to their largely local reach, these players are classified as standalone players. Industry structure as of March 2012Industry status There’s something about walls and advertising. It’s ironic, really. On the one hand, you have telecom brand Airtel talking of breaking down walls (‘Deewarein Gir Jaati Hain’), while on the other, you have Ambuja Cement talking of unbreakable walls (‘Yeh Deew aar Nahin Tootegi’). Obviously, the context is vastly different in the two cases, but one can’t help but notice the strikingly opposite thoughts, executed along similar lines. | The demolition talks in progress| | Boy, interrupted| | Bulldozer fails| |The stumped builder| | Rejoicing children| | ‘Ambuja Cement. Yeh Deewaar nahin tootegi'| A new television commercial (TVC) for Ambuja Cement, created by Grey Worldwide, revolves around the story of a wall that doesn’t break, seasoned with an emotional (almost humanitarian) twist. The TVC opens on a shot of the caretaker of an orphanage introducing the children to a Mr Choksi. She tells them that Choksi is going to build a hotel on the site of the orphanage. At this point, a little boy says to Choksi, â€Å"Sir, par last time†¦ † but he is shushed by an older boy. The following morning, the heartless Choksi arrives with bulldozer in tow. At his signal, the bulldozer delivers a powerful blow on the building, but is unable to bring it down. The little boy tries to explain again, but is stopped midway again by the elder one. Choksi tries his best, but is not able to demolish the orphanage. As he wonders about the strength of the building, the little boy says, â€Å"Arre sir, last time bhi yeh deewar nahin tooti thi (Sir, even last time, this wall could not be broken down). As a disappointed Choksi leaves with his men, the children and their caretaker start dancing in joy, and the voiceover concludes, â€Å"Ambuja Cement. Yeh Deewaar Nahin Tootegi. † For the longest time ever, Ambuja has been harping on its ‘giant compressive strength’ proposition; the brand even created the visual of a ‘giant’ and then a broken hammer. Perhaps its most memorable ad was the one involving two estranged brothers trying to break down the wall that runs between their houses (Bhai Bhai, featuring Boman Irani, which was released six years ago).After that humorous attem pt, came some ads which presented the brand in a sentimental vein (the Dadi ad), a move that Vivek Deshpande, Ambuja Cement’s vice-president for brand and promotions, agrees was rather disastrous, so much so that the Bhai Bhai ad was recalled. â€Å"Our new ad is a correction of this,† he says, adding that the brand will now strike a balance between emotion and humour. The new film clearly explores a situation where a wall should not break for the right reasons.Priti Nair, national creative director, Grey Worldwide, says that the strength of the wall was juxtaposed with the strength of character of the orphanage caretaker and the children. â€Å"Cement is a low involving category,† says Nair. So, the children element and the often used Bollywood type plot (victory of good over evil) were added to make the ad more entertaining. Nair and her team wanted to stay away from the stereotypical ‘milavat (adulteration)’ type ads for cement, or even those inv olving big buildings and pride of ownership. â€Å"We wanted to show the victory of the underdogs,† she explains.The ad has been directed by Abhinay Deo of Ramesh Deo Productions, who says that the film had to strike a perfect pathos-humour balance. Interestingly, the initial idea was to show that the kids are also surprised when the wall doesn’t crack. â€Å"But we ruled that out,† Deo says, because the innocence of a small boy trying desperately to make the big, bad builder understand what his predecessors couldn’t do, would add to the fun element. â€Å"Another older child warning him to stay quiet in a rather knowing fashion builds the suspense,† he grins.

What Everybody Dislikes About Nova Essay Samples and Why

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Essay about Sex Education in School - 4599 Words

Sex Education in School Just say no, or say nothing at all. Either live by the word of the Christian God, or live with disease and unsupportable families. In current abstinence-only sexual education, this is the choice the nation gives to young people about their private sexuality. Clear concise facts have given way to horrifying lectures of the fictional evils of sexual behavior that falls outside the lines drawn by the right wing and the Pope. These tactics do not educate and only damage adolescents and their budding sexuality. By perpetuating an archetype of sexual innocence they only accomplish a spreading of sexual ignorance. Comprehensive sexuality education in every school would end the inefficacy of abstinence until†¦show more content†¦This concealment of data will only impair young people for whom it is difficult to find accurate information by conferring with either their parents or peers. Besides the problem of school districts skirting the issues of safe sex and pregnancy preven tion, students are completely unaided in understanding the complexities of sexuality beyond mere intercourse, because these topics are considered too controversial, even though they are the topics most applicable to many students lives. As many as one in two school programs do not discuss more controversial topics, such as abortion and sexual orientation, in their sex education curricula (American). Adolescents need the whole story on sexuality; deleting all sections that could perchance, in the remotest context, affront someone, leaves unanswered questions and a nebulous comprehension of sexuality. Those who believe that teenagers need to know nothing more than what is currently taught should have a look at the latest research. In his research summary The Necessity of Comprehensive Sexuality Education In The SchoolsShow MoreRelatedSex Education in Schools657 Words   |  3 PagesSex Education in Schools Nineteen-fifty five marked the debut of sex education programs in schools in the United States. Along the years, many have argued whether or not sex education should be taught in schools. Many believe that the education of sex encourages students to engage in sexual activities which lead to a higher number of pregnancies and sexual transmitted diseases (STD’s).The U.S. is the leading country in teen pregnancies and STD’s As the number of unplanned pregnancies and sexuallyRead MoreSex Education in Public Schools1188 Words   |  5 PagesSex education should be taught in public middle schools because: it decreases the chance of sexual diseases and teenage pregnancies, it is needed in case of a parents’ absence or neglect, and it also provides more knowledge about how sex works while debunking the myths surrounding sexual intercourse, and it makes some want to set goals for relationships. People say sex education encourages youth to engage in sexual activities rat her than preventing sex. This is true; however, studies show that whenRead MoreIs Sex Education Necessary in School?1123 Words   |  5 PagesIs Sex Education Necessary in School? By: Zainul Jum’ah Introducing sex education in the schools of India is an important issue. A 2007 ministry of women and child development study shows that over 50 percent of children are sexually abused. Sex is still considered a taboo in India. Parents feel embarrassed to talk openly with their children in this regard. Due to the ignorance of sex education they fall victim to AIDS and other sexually transmitted diseases. Many NGOs are trying to create awarenessRead MoreSex Education For Public Schools1426 Words   |  6 PagesSex Education Research Paper Sex education being taught in public schools is a reoccurring topic in many schools. More recently, it has also caught the attention of the public again due to rising unwanted pregnancies and sexually transmitted disease among young teenagers in the US over the last decade or so. â€Å"Each year, U.S. teens experience as many as 850,000 pregnancies, and youth under age 25 experience about 9.1 million sexually transmitted infections† (McKeon). Sex Education is attempting toRead MoreEducation Of Single Sex Schools And Co Education Schools1103 Words   |  5 PagesEducation System in the UK Education is an important tool that is applied in the contemporary world to succeed, as it mitigates the challenges which are faced in life. The knowledge gained through education enables individuals’ potential to be optimally utilized owing to training of the human mind. This opens doors of opportunities enables individual to achieve better prospects in career growth. The education system generally and in the UK specifically is divided into four main parts,Read More Sex Education in School Essay1706 Words   |  7 Pages Sex is something that almost everyone will experience before they die. It is a subject that has been debated about for years. From the debate over birth control to the outbreak of aids. With all this history behind us, sex is becoming even more of an issue. With the new outbreaks of sexually transmitted diseases and the fact that sexually active persons are becoming younger, sex has now become a daily topic. Sex scandals in the media and t alk such as who slept with who at last nights kegRead MoreSex Education And Public Schools Essay1692 Words   |  7 Pagesexperiences, sex education in public schools, and abortion. The first two topics, virginity and first sexual experiences, coming from a personal perspective as well as some credible sources. I will also include the historical aspects of virginity, the creation and use of the concept, and why it’s in our society. The last topic is my concern for the lack of sex education in public schools and mentioning the harm of abstinence only sex education and the importance to provide comprehensive education for ourRead MoreEssay on Sex Education in Schools1677 Words   |  7 Pagesthem for the future. Children learn from parents, schools, life experiences, what they watch and other influences around them, and it can be either positive learning or negative learning. There is one subject that is difficult to teach and have control over because of misunderstandings, l ack of teaching, and publicity. Sex education has been a major debate for children under eighteen, because there are some parents that want it taught in schools and others that do not because of different reasonsRead MoreSex Education in High School3397 Words   |  14 Pagesexamines the issues relating to sex education programs in high school which has been a controversial subject since its inception. It evaluates how the recent increase in sexual activity among teenagers indicates that the subject should be revisited for further inspection and scrutiny. It shows how opponents of sexual education in schools argue that the subject promotes promiscuity and liberal sexual attitudes in teenage students whereas supporters of sexual education programs believe that they oftenRead MoreThe Effects Of Sex Education On Schools2753 Words   |  12 PagesProviding Sex Education in schools provides the necessary tools to decrease these numbers and change the thoughts and actions of children wh o act impulsively with little or no knowledge of the consequences of their actions. In the 1940’s, The Public Health Service strongly supported Sex Education in public school, calling it â€Å"an urgent need†. During the 60’s, 70’s and 80’s, groups such as the Christian Crusade and the Eagle Forman launched campaigns to have Sex Education banned in schools. For many