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© hannu viitanen dreamstime.com Business | August 11, 2022

Ferrotec breaks ground on new factory in Malaysia

Work begins on a new facility aimed at expanding the company's position as a supplier of materials to the semiconductor manufacturing equipment industry.

Ferrotec Holdings Corporation has started construction of its new manufacturing facility at Kulim Hi-Tech Park, Kedah, facilitated by the Malaysian Investment Development Authority (MIDA). The plant will be undertaking electromechanical assembly and advanced material fabrication for semiconductor equipment.

"Ferrotec has seen increasing demand for our products and services in Asia. With the start of construction on this new production facility in Malaysia, Ferrotec is committed to continue driving its effort to fulfill the increasing capacity demands and improved business continuity that are vital to our customers success," says Eiji Miyanaga, CEO of Ferrotec Manufacturing Malaysia in a press release.

In a previous press release from May 2022, the company said that it plans to kickstart operations at the plant in 2023. The company said that total investment expected to exceed MYR 500 million (EUR 109.5 million) and once completed the new facility will offer the company more than 800,000 square feet of space. The project is anticipated to create approximately 250 high-value jobs.

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September 29 2022 3:24 pm V20.8.40-2
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