Applied Materials to Invest $400 Million in New India Facility
22 June 2023 - 10:12PM
Dow Jones News
By Will Feuer
Applied Materials said it plans to invest $400 million over four
years in a new engineering center in Bangalore, India.
The new facility will focus on developing and commercializing
new technology for semiconductor manufacturing equipment. The
company said it will bring together internal engineers with Indian
suppliers and top researchers to accelerate the development of
semiconductor equipment sub-systems and components.
The investment is the latest such commitment from chipmakers in
India. Micron Technology also said Thursday it plans to build a new
assembly and test facility in India. Many companies are reassessing
their supply chains and their reliance on China amid tensions
between the U.S. and China.
"We envision Applied's strong base of engineering talent
collaborating more deeply with domestic and global companies
operating in India to strengthen the foundational equipment supply
chain serving the global semiconductor manufacturing industry,"
said Prabu Raja, president of the semiconductor products group at
Applied Materials.
Applied said the center is expected to support more than $2
billion of planned investments and create at least 500 new advanced
engineering jobs in its first five years of operation.
Write to Will Feuer at Will.Feuer@wsj.com
(END) Dow Jones Newswires
June 22, 2023 07:57 ET (11:57 GMT)
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