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ASM Technologies Signs MoU with the Government of Karnataka
February 14, 2025 | ASM TechnologiesEstimated reading time: 1 minute
ASM Technologies Limited, 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. As part of the agreement ASM Technologies will acquire 10 acres of land from the Karnataka Industrial Areas Development Board (KIADB) to set up a state-of-the-art design facility.
Speaking about the MoU, Rabindra Srikantan, Managing Director of ASM Technologies Limited, said, “This MoU reaffirms ASM Technologies Limited’s’ commitment to Karnataka’s industrial growth and self-reliance. This expansion will enhance our precision engineering for the electronics, semiconductor and solar industries, create employment opportunities and promote technological advancements in the region. We are grateful to the Government of Karnataka for their support and look forward to a fruitful collaboration.”
ASM Technologies also recently commenced operations from its two new state-of-the-art manufacturing facilities at Dabaspet, Karnataka and Sriperumbudur, Tamil Nadu. Totalling over 55,000 sq.ft. 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.
These developments mark yet another step in ASM’s pursuit of leadership in engineering innovation and its commitment to the highest degree of excellence. This also complements the Government of India’s ‘Make in India’ initiative. Through these investments, the company plans to augment its capabilities and offerings in design-led manufacturing and precision engineering while contributing to industrial progress.
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