- The project will be fully managed by Mindteck’s team and executed in two phases
- In total, there will be 33 modules to develop
Mindteck India Limited (Mindteck), an engineering and technology solutions company, has been awarded a full development project from a US-based semiconductor equipment manufacturing company. The company, as Mindteck informed, focuses on delivering next-generation semiconductor solutions.
“I am truly proud of the way our team worked so well together to make this happen. The scope of the project encompasses the design and development of a common cluster tool controller software framework for their new and existing products, as well as the development of control application for three of their existing tools. In total, there will be 33 modules to develop. We look forward to getting started to bring about a successful outcome,” noted Arup Banerjee, senior vice president, Global Delivery and Practices, Mindteck.
This win follows the execution and delivery of a three-month system study phase for the same project which initiated the new relationship during the fourth quarter of last year pointed out Mindteck Team. The project, which will be fully managed by Mindteck’s team and executed in two phases, is due for final delivery by mid-2021.
Anand Balakrishnan, Chief Executive Officer and Managing Director, said, “We are extremely delighted about this project win. It is yet another testament of our valued niche knowledge gaining recognition from key leaders of the semiconductor industry.”
Mindteck had reported consolidated revenue for the year 2019-20 at Rs 276.13 crores, as against Rs 299.41 crores for the previous year ended 31 March 2019. The company reported a consolidated net loss for the year 2019-20 of Rs 64.80 crores which included an exceptional non-cash item amounting to Rs 59.42 crores relating to impairment of goodwill of the US and Singapore subsidiaries.
The company has also won a two-year contract with one of the largest public sector manufacturing companies in the Middle East. The scope of the project encompasses maintenance and management of the IT infrastructure system for two years.