“The instance over here was destocking happening with one of the larger customers, and that's going to correct itself in the second half.”

In context

“Cunningham with Citigroup. Patrick David Cunningham: I'm curious on the electronics outlook from here. It seems year-on-year, sequential growth is down slightly. How much of this is helium pricing, or maybe there was some modest pull forward in positioning in 1Q? And how would you characterize the shape of volume and new project starts for the balance of the year? Sanjiv Lamba: Thanks, Patrick. So let me just start off by making sure that this is understood well. The industrial gases sales to the electronics end market grew both year-on-year and sequentially. The drop that you see in the end market slide that we have in the deck is all driven by our advanced materials business that sits in the global other segment, which provides electronics targets to some of these electronics customers. The instance over here was destocking happening with one of the larger customers, and that's going to correct itself in the second half. So really no concerns there. Just to clarify what the advanced materials group is doing over here. So essentially, the advanced materials group develops and builds, manufactures precious metal targets, which are used in the chipmaking process to deposit a thin film of materials onto the semiconductor wafer. So the process is called sputtering. What happens is we provide high energy particles bombarding the target that's been set up. And what it does is it checks these atoms to then provide a coating, a very thin level of coating on the wafer, forming layers for components like transistors, interconnects, et cetera. All of this is about putting very precise material deposition on the integrated circuitry. And that's what sits in that advanced materials business, which is the reason why you”