Ben Gliklich: Yes. So the core of our business in Electronics is stable from a competitive perspective the things that have worked to continue to work, as we get to some of these leading nodes we are starting to see exploration of new materials and Kuprion really helps with that ViaForm and some of the innovation that we’ve done there is improving our competitive positioning as new notes come online. And we have a real expectation, we’ll be gaining share in copper deposition and in IC substrate markets, because of the new technologies we’re bringing to bear. This isn’t a market where share shifts radically from one year to the next the way that we grow our shares by getting a disproportionate amount of emerging applications, we feel very well positioned for that. And those emerging applications are going to be coming online in 2024 and 2025 and that speaks to our ability to continue to grow well above market in that time frame.
Operator: Your next question is from the line of Steve Byrne with Bank of America.
Rock Hoffman: Hi, Rock Hoffman on for Steve Byrne. In terms of the ViaForm do we think it has potential to drive cross-selling of other products to semiconductor fabs.
Ben Gliklich : It’s a great question. Thank you for it. And the answer is absolutely yes. We’ve been really pleased to see the change in engagement level with the front end of line technologists at the largest semiconductor fab since we completed this transaction. And so we have ongoing more robust dialogues than we did before.
Rock Hoffman: Understood. And just to follow up what are the growth opportunities for you in electric vehicles that are different than internal combustion engine in vehicles? And any update on the flexible circuit technology that you’ve had in development?
Ben Gliklich : Yes. Really good question and a really exciting area for us. Electric vehicles have a lot more electronic content than internal combustion engines, and we have some really special capabilities in power semi applications. So these are the materials that are used in the power semiconductors that regulate the flow of energy from the battery to the motor. And what we provide in that market is enabling technology to the high-end electric vehicle supply chain. We’ve got differentiated technology that is currently in use in a very large portion of high-end electric vehicles and the traction for that technology is growing in the automotive supply chain both in the West and in Asia. We see about 1.5 times to two times the value in an electric vehicle versus a conventional ICE.
And so we see again it’s — the business is driven by units, but there’s a content story over and above units and that’s one of the key levers that’s giving us incremental content incremental growth relative to unit growth in the automotive supply chain. With regard to the flexible formable printed electronics business, that is a nascent technology that we’ve had some really interesting breakthroughs and have a lot of hope for in the medium term. It’s not a material contributor to profits today, but it’s an emerging frontier for Electronics hardware and one where we believe we’ve got a right to play and win.
Operator: Your next question is from the line of Josh Spector with UBS.
Josh Spector: Yes. Hey, guys. So first I just wanted to ask on — I mean, you made a comment in your prepared remarks about the green shoots getting taller for next year. Obviously the seasonality in second half shifted a little bit but it’s somewhat unchanged. So what’s looking more positive to you now versus a quarter ago where you have confidence to even frame what 2024 might look like?
Ben Gliklich : So we’re pretty transparent about the fact that it’s a reasonably short cycle business. And so it’s not an order book, but it’s tone from the supply chain. It’s tone from large semiconductor fabs, who remain bullish about 2024 market research who are pointing to mid-single-digit growth in smartphone handsets and general industry expectation for a recovery next year.
