TTM Technologies accelerates second phase investment in Penang factory

Officiating the grand opening of TTM Technologies’ Malaysia facility (from left to right): TTM Technologies, Inc Executive Vice President and Commercial President Douglas Soder, TTM Technologies Malaysia Sdn Bhd Vice President and General Manager Teik Ming Ng, Malaysian Investment Development Board (Najiha Abbas, Executive Director of Investment Promotion (Mida); Penang Chief Minister Chow Kong Yow, Invest Penang CEO Datuk Loo Lee Lian, TTM Technologies President and CEO Thomas Edman, TTM Technologies Executive Vice President and Chief Executive Officer Director Philip Titterton.

BUKIT MERTAJAM (April 25): Nasdaq-listed TTM Technologies Ltd. on Thursday unveiled its first manufacturing facility in Malaysia.

At the event, Thomas Edman, the company’s president and CEO, announced plans to accelerate implementation of the second phase of investment due to strong demand for advanced technology multilayer printed circuit boards. I made it.

He said the company originally planned to expand in 2025, increasing the facility’s production capacity by 25%.

“If you had asked me two years ago about this second phase of investment, I would have said it would only take place in 2025, but now due to strong customer interest, we are starting by the end of the year,” he told reporters. We are considering it,” he said. Click here for the conference after the facility’s opening ceremony.

TTM Technologies has allocated US$200 million (approximately RM958 million) to set up the factory on 10.9 hectares of land within Penang Science Park, creating around 1,000 job opportunities in various categories by 2025. It is expected that

Edman said the factory aims to serve global commercial markets such as networking, data center computing, medical, instrumentation and industrial sectors, among others.

He added that the investment for the second phase will be lower than the first phase, as the existing facilities are already equipped to accommodate the second phase expansion.

He also highlighted that TTM Technologies is currently ramping up production and the facility is expected to generate revenue of approximately RM855 million at full capacity by 2025.

“Our strategic expansion plan will strengthen our presence, take advantage of new customer opportunities, expand our business footprint and expand our market reach, while leveraging the region’s thriving economy and vibrant ecosystem. We are confident that we can drive growth in this area,” he added.

Penang Chief Minister Chow Kon Yew, who officiated the opening of the facility, stressed that TTM Technologies’ decision to set up a factory in Penang reflects the confidence foreign investors have in Penang.

He highlighted Penang’s status as an advanced manufacturing hub with over 350 multinational companies and over 4,000 SMEs.

“US investments have a significant presence in the state, reaching a total of RM6.7 billion in 2023,” he said.

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