BUKIT MERTAJAM, April 25 (Bernama) -- TTM Technologies Inc, a NASDAQ-listed company, unveiled its inaugural manufacturing facility in Malaysia today.
At the same time, president and chief executive officer, Thomas Edman revealed the company’s plans to expedite the implementation of its Phase 2 investment due to robust demand for advanced technology multi-layered printed circuit boards.
He said the company had originally scheduled the expansion for 2025, intending to increase facility capacity by 25 per cent.
"If you had asked me about this Phase 2 investment two years ago, I would have said it would only happen in 2025 but now, we are looking at commencing by year-end due to strong customer interest," he told a press conference after the opening ceremony of the facility, here today.
TTM has allocated US$200 million (approximately RM958 million) to set up the plant on 10.9 hectares of land in Penang Science Park, and it is expected to create around 1,000 job opportunities across various categories by 2025.
Edman said the plant aims to serve global commercial markets, particularly in networking, data centre computing, medical, instrumentation, and industrial sectors.
He added that investments for Phase 2 would be lower than that of Phase 1 since the existing facility is already equipped to accommodate the Phase 2 expansion.
He also highlighted that TTM Technologies is currently ramping up its production, with the facility expected to generate full run-rate revenue of about RM855 million by 2025.
“We are confident that our strategic expansion plan will allow us to bolster our presence, capitalise on new customer opportunities, expand our footprint and drive our market growth while tapping into the region’s thriving economy and vibrant ecosystem,” he added.
Penang Chief Minister Chow Kon Yeow, who officiated the facility's opening, emphasised that TTM Technologies’ decision to establish its plant in Penang signifies the confidence foreign investors have in the state.
He highlighted Penang's positioning as an advanced manufacturing hub, boasting over 350 multinational companies and 4,000 small and medium enterprises.
“American investments have a significant presence in the state, totaling RM6.7 billion in 2023,” he said.
--BERNAMA
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