Mindteck (India) secures high-value project from US client

Global company, Mindteck (India) Limited declared that it has landed a full development project of high value from a semiconductor equipment manufacturing client based in US.

The company's press release to BSE did not disclose the total consideration of the order but that the project will be fully managed by the Mindteck Team, executed in two phases and be due for delivery by mid-2021.

The new client relationship was initiated during a three-month system study phase during the fourth quarter of the last year for the same project, whose successful execution and delivery has brought about this development.

Arup Banerjee, Senior Vice President - Global Delivery and Practices, while speaking on the update, stated that 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. He further went on to say that there will be 33 modules to develop and that the company is looking forward to getting started to bring about a successful outcome.

Mindteck (India) Limited is a global technology company engaged in providing software, information technology (IT)-enabled and related services. It provides product engineering and information technology services to universities, startups and government entities around the globe.

The company's stock closed at Rs 19.70 on Tuesday, up by 4.83 per cent or Rs 1 per share. The 52-week high on BSE is recorded at Rs 50.90 and the 52-week low is Rs 11.65.