Applied Materials announces $400M investment in engineering center in India
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Applied Materials (NASDAQ:AMAT) said on Thursday that it would invest $400M over the next four years in Bangalore, India for a new engineering center.
In a statement, Applied Materials' President of the Semiconductor Products Group Prabu Raja said the new center will help the company's engineers collaborate better with domestic and global companies "to strengthen the foundational equipment supply chain serving the global semiconductor manufacturing industry."

The new engineering center comes a day after Applied Materials (AMAT) CEO Gary Dickerson met with Indian Prime Minister Narendra Modi.
Prime Minister Modi is in the U.S. for a state visit where he is slated to attend a White House state dinner, with Apple CEO Tim Cook among the guests.
Applied Materials (AMAT) shares rose 0.5% in early trading on Thursday.

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