Mitsui partners with Kaynes for new OSAT facility in India [Yahoo! Finance]
WISeKey International Holding AG - American Depositary Shares (WKEY)
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Source: Yahoo! Finance
AOI Electronics Co. to support the establishment of a semiconductor back-end manufacturing operation in India. The agreement gives Mitsui the role of facilitating Kaynes' launch into the outsourced semiconductor assembly and test (OSAT) sector by drawing on Japan-based AOI Electronics' technical experience. Mitsui has secured exclusive rights regarding procurement of raw materials from Japanese and international suppliers for Kaynes and will also coordinate sales of Kaynes-produced items. The Indian government, as part of its “Make in India” initiative, has approved the project, which aims to boost domestic manufacturing, including through financial subsidies to the semiconductor industry. Kaynes received government clearance to begin OSAT operations in September 2024 and is planning to start production in the latter half of this year. Mitsui has also gained the option to acquire shares in Kaynes at a later date, signalling potential for expanded involvement. In parallel d
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