XP Power breaks ground on new manufacturing facility
The developer and manufacturer of power solutions has started construction on its latest manufacturing facility in Perak, Malaysia. Once completed, the facility will be the company's biggest to date.
The Asia III site will be the company’s largest facility, and also its biggest investment, valued at MYR 228 million (EUR 49.89 million) for Phase 1, over the span of 5 years, a press release from the Malaysian Investment Development Authority (MIDA) reads.
Construction started now in September, and the company expects the facility to be fully operational by the second quarter of 2024. The new manufacturing site complements XP Power's existing sites in Vietnam, China, the US, and Germany, providing more resilience and flexibility to its supply chain.
The site will also create significant employment opportunities in the surrounding region. The factory, once completed, will employ approximately 1,200 people, the press release continues.