Applied Materials Earmarks $400M For New Engineering Center In India

Applied Materials, Inc AMAT disclosed its plans to build a collaborative engineering center in Bangalore, India, focused on developing and commercializing technologies for semiconductor manufacturing equipment.

The company looks to make a gross investment of $400 million over four years to establish the new center in India. 

In its first five years of operation, the center will likely support more than $2 billion of planned investments and create at least 500 new advanced engineering jobs and potentially another 2,500 jobs in the manufacturing ecosystem.

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The center will help to bring together Applied engineers, leading global and domestic suppliers, and top research and academic institutions, enabling them to collaborate in one location to develop semiconductor equipment sub-systems and components. 

The center will also aim to catalyze the training and development of future semiconductor industry talent and open up new opportunities for India.

Applied currently operates across six sites in India with a large organization of product development, R&D, IT, and operations capabilities in the country. 

The company also works closely with multiple leading academic institutions, including the Indian Institute of Science, Bangalore, and the Indian Institute of Technology, Bombay, where Applied has established a Materials Development Center focused on developing next-generation chemistry and materials for the semiconductor industry. 

The new collaborative engineering center will strengthen Applied's high-velocity innovation platform, which includes the forthcoming EPIC Center in Silicon Valley.

Price Action: AMAT shares traded lower by 0.64% at $135.80 premarket on the last check Thursday.