$54 Million HDD Lean 200 Order Received by Intevac

Intevac, Inc. received a $54 million order for multiple 200 Lean systems.

The order includes 8 expanded-module systems, each of which are configured with 28 process chambers for the production of HDD media.

Scheduled to ship over multiple quarters beginning in mid-2023, this order will be reflected in the company’s backlog at its fiscal first-quarter end of April 2. This order also includes a down payment provision, due in 3FQ22, which will help fund inventory purchases in support of this significant system build-out.

“We are pleased to announce Intevac’s largest 200 Lean order in over 12 years,” said Nigel Hunton, president and CEO. “Over the past several months, we have appreciably grown backlog in support of the HDD industry’s first significant media capacity additions since 2010.”

. Through a combination of new systems, upgrades, and tool refurbishment programs being deployed over the next several years, we believe all of the incremental media capacity added in the industry over this timeframe will be on our 200 Lean platform.“