ASM Technologies to Invest Rs 510 Cr in Karnataka's Electronics Manufacturing

New Delhi, Feb 12 (PTI) Electronics manufacturing company ASM Technologies is planning to invest Rs 510 crore to expand its Design-Led Manufacturing and precision engineering capacity in Karnataka.

The company has signed an agreement with the Karnataka government for the investments under which it plans to acquire 10 acres of land from the Karnataka Industrial Areas Development Board (KIADB) to set up a design facility.

"ASM Technologies Ltd, a pioneer in Design-Led Manufacturing in the semiconductor and automotive industries... announced signing of Memorandum of Understanding (MoU) with the Government of Karnataka whereby it will invest Rs 510 crores in the state to expand its ESDM related design-led manufacturing and precision engineering capacity," the company said in a statement.

ASM Technologies Managing Director Rabindra Srikantan said the expansion will enhance the company's precision engineering for the electronics, semiconductor and solar industries, create employment opportunities and promote technological advancements in the region.

ASM Technologies also recently commenced operations from its two new manufacturing facilities at Dabaspet, Karnataka, and Sriperumbudur, Tamil Nadu.

"Totalling over 55,000 square feet across both locations, the facilities are expected to give a fillip to the company's design-led manufacturing operations and will serve as core centres of excellence for its clients across key industry verticals," the statement said.