TTM Technologies to Invest USD 130 Million for Its First PCB Manufacturing Plant in Penang

May 2022

US-based TTM Technologies Inc (TTM) will open a new, highly automated printed circuit board (PCB) manufacturing plant in Penang state, Malaysia, with a proposed capital investment of USD 130 million by 2025. The expansion in Malaysia seeks to respond to the growing concerns on advanced technology, PCB supply chain resiliency, and regional diversification.

Located at the Penang Science Park, the production site will encompass 27 acres of industrial land, with construction set to commence in 2022, followed by equipment installations in 2023. Initial pilot production will begin in the second half of 2023 with volume production starting in 2024 and gradually increasing to the full Phase 1 capacity of about USD 180 million in revenue by 2025. It is expected to enable a 25% upside Phase 2 expansion. TTM’s commercial markets such as networking/telecom, data center computing, medical, industrial, and instrumentation, will be handled by the Malaysian plant. It will also provide TTM with an additional growth vector from existing and new customers searching for cost-competitive, high technology PCB manufacturing outside of China.

Penang’s Chief Minister Chow Kon Yeow noted that Penang was chosen as the expansion location because of its well-established electricals and electronics (E&E) ecosystem. Malaysian Investment Development Authority’s (MIDA) Deputy CEO of Investment Development, Lim Bee Vian, remarked that TTM Technologies’ project will create more jobs and strengthen local supply chain capabilities to fulfill the changing needs of E&E industry segments while stimulating innovation in emerging fields.

(Sources: TTM; Globe News Wire; Focus Malaysia)

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