TTM Technologies Makes USD 200 Million Investment in Penang Manufacturing Plant

May 2024

US-based semiconductor giant TTM Technologies has committed a substantial investment of USD 200 million to establish its inaugural manufacturing plant in Malaysia. This facility, situated in Penang Science Park within the Northern region of the country, is tailored for large-scale production serving various commercial sectors including networking, data centers, medical, industrial, and instrumentation

With an anticipated creation of approximately 1,000 jobs for local talent, the plant is projected to achieve full run-rate revenue of around USD 180 million (MYR 855 million) by the year 2025. Additionally, plans for a Phase 2 expansion are in place, potentially increasing the facility’s capacity by 25%. TM’s expansion aligns with the Malaysian government’s objectives outlined in the New Industrial Master Plan 2030, aiming to strengthen the semiconductor ecosystem and foster skill development and knowledge sharing among local talents, positioning Malaysia as a competitive and technologically advanced nation on the global stage.

TTM’s President and CEO, Thomas Edman, highlighted Penang’s strong talent pool and conducive business environment as key factors influencing the company’s decision. The strategic choice of Penang as the location for this facility is attributed to its robust industrial ecosystem and its prominence as a hub for the electrical and electronics industry.
(Sources: The Edge Malaysia; Digital News Asia)

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