Vedanta appoints veteran Terry Daly as advisor for semiconductor biz

  • IANS
  • Stock Market News
Vedanta appoints veteran Terry Daly as advisor for semiconductor biz
Credit: © Reuters.

New Delhi, May 9 (IANS) Global conglomerate Vedanta (NS: VDAN ) on Tuesday said it has appointed industry veteran Terry Daly as advisor for its semiconductor business.

He will be responsible for providing strategic counsel and inputs as the conglomerate looks at setting up a state-of-the-art semiconductor fab unit and semiconductor assembling and testing unit in India.

"We are pleased to welcome Daly to our team. As an industry veteran, he brings a vast wealth of knowledge and experience in managing several workstreams that are critical for establishing a world-class semiconductor fab," said David Reed, CEO, Vedanta-Foxconn Semiconductors Limited (VFSL).

Daly joins Vedanta from his post as an independent consultant in the microelectronics industry.He was instrumental in establishing a strategic alliance on advanced technology with Samsung (KS: 005930 ) and in the acquisition of IBM (NYSE: IBM )'s microelectronics business.

"India has a generational opportunity to become part of the global semiconductor supply chain and provide geographic diversification to its customers, supply chain resiliency to its partners, and job creation opportunities to its extremely talented population," said Daly.

"I am very impressed by the unique, complementary partnership that Vedanta and Foxconn bring to the opportunity to establish India's first commercial semiconductor fab," he added.

Daly spent 26 years at IBM, the majority in its semiconductor division. Before joining IBM, he spent five years as an officer in the US Army.

Vedanta-Foxconn Semiconductors Limited (VFSL) is a joint venture between Hon Hai Precision Industry Co, better known as Foxconn, and Vedanta Resources Limited, a globally diversified natural resources company.

VFSL will establish an integrated semiconductor fab foundry in India. In phase 1, the company will set up capacity of 40,000 wafers per month to cater to applications in displays, consumer electronics, industrial, mobiles, network equipment and automotives.


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