Ferrotec to add manufacturing capacity with new plant in Malaysia
Ferrotec, a global supplier of materials, components, and precision system solutions, is establishing a new manufacturing facility at Kulim Hi-Tech Park, Kedah, facilitated by the Malaysian Investment Development Authority (MIDA).
The plant which will be undertaking electromechanical assembly and advanced material fabrication for semiconductor equipment is designed to meet customer needs while also expanding the group’s business globally, a press release read.
With a total investment expected to exceed MYR 500 million, the company will set up a facility offering Ferrotec more than 80,000 square feet of space, while also creating 25 new jobs in the region. The plant is expected to kickstart operations in 2023.
“Ferrotec’s decision on choosing Malaysia as a destination of choice for its high-tech manufacturing facility speaks volumes of our talent readiness, strength and capability of our manufacturing and business ecosystems. Indeed, Ferrotec’s presence in Malaysia will turbocharge our local talent development and strengthen our value proposition in the global supply chain,” sats Dato’ Seri Mohamed Azmin Ali, Senior Minister and Minister of International Trade and Industry (MITI) in the press release.
He also stressed that Ferrotec’s investment will open up greater possibilities for other global companies in the industry to follow suit and invest in Malaysia.
“Ferrotec has seen increasing demand for our products and services in Asia. With this new production facility, we expect to provide expanded capacity, improve business continuity for critical activities, and most importantly, ensure that our customers do not experience disruptions to their supplies from us,” adds Eiji Miyanaga, CEO of Ferrotec (USA) Corporation in the press release.