Titan Engineering and Automation (TEAL) will invest over Rs 220 crore in the next five years to ramp up its semiconductor wafer fab equipment manufacturing facilities in Tamil Nadu. With this expansion, the wholly-owned subsidiary of Titan Company, expects its production capacity to increase tenfold.

The company has acquired an additional three acres of land near Hosur, adjacent to its existing manufacturing services facility, to build a new factory for its semiconductor business. By December 2024, it expects to move all its semiconductor business to the new facility.

Present in the fab equipment space, requiring precision machinery and process, the company has contributed to the supply chain by supplying components, and is now making 200-250 components with upgarded processing lines for its semiconductor manufacturer client. TEAL  plans to garner more clients as it ramps up its manufacturing capacity.

TEAL has two business divisions - automation solutions and manufacturing services. The manufacturing services business primarily caters to aerospace and defence sector, providing precision components and sub-assemblies.