Key Points from Dr. Fiore's Presentation, Sept 15, 1997

During the past Fifty years, the materials industry has passed through three stages of development. As we enter the "Growth" phase in the 21st century, those who succeed will be the companies who focus on the technology they know best, and expand their presence globally. It is no longer meaningful to think of one as a "US producer". While some have viewed Global Competitiveness from a defensive stance, it is really an opportunity and should be approached with an offensive posture. Suppliers must position themselves to meet meet demand with fast and dependable service wherever that demand exists. Options available to alloy producers to operate competitively in this environment include: alloy development activities, process research activities, acquired technology and technological and commercial joint ventures and alliances on a global basis. A major challenge to the materials industry is the fact that research in materials takes about 20 years to generate a payback. In the majority of other industries the cycle is about 5 years, and in software and entertainment it can be as short as months. To succeed in materials development takes major capitalization and real staying power.