FERROTEC CHOOSES MALAYSIA TO ENHANCE ITS MANUFACTURING CAPACITY TO EXPAND ITS GLOBAL BUSINESS
The facility aims to acquire the capabilities necessary to develop a customer support system and establish a world-leading position in the manufacture and assembly of advanced materials in the field of semiconductor manufacturing equipment.
KEDA, Malaysia, May 23, 2022 /PRNewswire/ — Ferrotec Holdings Corporation, a global supplier of precision materials, components and system solutions, has announced the establishment of the new manufacturing facility at Kulim Hi-Tech Park, Kedah, facilitated by the Malaysian Investment Development Authority (MIDA) . The plant that will undertake electromechanical assembly and advanced materials manufacturing for semiconductor equipment is designed to meet customer needs while expanding the Group’s business globally.
The plant is expected to start operating in 2023. With a total investment expected to exceed RM500 million and in a facility of more than 800,000 square feet, the project is expected to create around 250 high-value jobs for Malaysians. As a Tier 1 company supplying multinationals in the semiconductor industry, the company is committed to providing training to Malaysian employees in the factories of Japan and the United States.
“Ferrotec’s decision to choose Malaysia as a destination of choice for its high-tech manufacturing facility speaks volumes about the readiness of our talents, the strength and capacity of our manufacturing and business ecosystems. Indeed, the presence of Ferrotec in Malaysia will boost the development of our local talent and strengthen our value proposition in the global supply chain,” said Dato’ Seri Mohamed Azmin AliMinister of State and Minister for International Trade and Industry (MITI).
He also pointed out that Ferrotec’s investment will open greater opportunities for other global companies in the sector to follow this example and invest in Malaysia. He added that this major investment is about to materialize malaysia long-term aspiration to become a global manufacturing center.
In 2021, the machinery and equipment (M&E) industry received 48 approved projects worth RM1.67 billion investment from foreign and domestic sources. These projects are expected to generate 2,500 job opportunities, with approximately 56% of employees in the management, technical and engineering fields. The specialized M&E sub-sector for specific industries is the largest contributor of investments for 2021, with 16 projects totaling RM592 million approved.
“Ferrotec has seen a growing demand for our products and services in Asia. With this new production plant, we plan to provide increased capacity, improve business continuity for critical activities and, most importantly, ensure that our customers do not experience supply disruptions from us,” said declared Eiji MiyanagaChairman and CEO of Ferrotec (UNITED STATES) Company.
Datuk Arham Abdul RahmanCEO of MIDA concluded “It is encouraging to know that Ferrotec, which is the main supplier to a major global manufacturer of face-end wafer fabrication equipment, has decided to establish a factory in Kulim, Kedah. With malaysia an attractive talent pool, a positive investment environment and a diverse supply chain, among others, I am optimistic that Ferrotec will benefit from the benefits the nation has created and have more to offer its global customers. »
To continue transforming the industry, the Malaysian government is encouraging investors to invest in advanced technologies that can support advanced manufacturing processes along supply chains.
MIDA is the principal government investment promotion and development agency under the Ministry of International Trade and Industry (MITI) responsible for overseeing and stimulating investment in the manufacturing and services sectors in Malaysia. Based in Kuala Lumpur Sentral, MIDA has 12 regional offices and 20 overseas offices. MIDA continues to be the strategic partner for companies to seize the opportunities arising from the technological revolution of this era. For more information, visit www.mida.gov.my and follow us on Twitter, Instagram, Facebook, LinkedIn and YouTube.
Founded in 1980, on a technological core of Ferrofluid magnetic liquid and Ferrofluid® sealing products, Ferrotec Holdings Corporation (TSE 6890 standard) is a world leader in the supply of materials, components and precision systems solutions for the industrial enterprises. Ferrotec is a world-class, diversified industry organization with a global presence in a wide range of technology-driven end markets (semiconductors, automotive, biomedical applications, smartphones, LEDs and FPDs). For more information on Ferrotec products, visit www.ferrotec.com
For more information please contact:
Mrs. Zakiah Sajidan
Director, Division of Machinery and Metal Technology, MIDA
E: [email protected]
Such. : +603-2267 3628
Mr. Tom McKee
Marketing Communications Manager
E: [email protected]
Such. : +1 (408)-964-7700
SOURCE Ferrotec Holdings Corporation