Intevac receives $54 million order for 200 Lean systems

The order includes eight expanded-module systems, each of which are configured with 28 process chambers for the production of advanced hard disk drive media, a press release reads.

The order is scheduled to ship over multiple quarters beginning in mid-2023, and will be reflected in the company’s backlog at its fiscal first-quarter. This order also includes a down payment provision, due in the third fiscal quarter of 2022, 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,” says Nigel Hunton, Intevac’s president and chief executive officer in the press release. “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.”