BUSINESS

SWISS FIRM LEM OPENS RM78 MLN MANUFACTURING PLANT IN PENANG

19/04/2024 05:05 PM

BUKIT MERTAJAM, Apr 19 (Bernama) -- Switzerland-based electrical measurement company, LEM Holding SA, officially opened its 15 million Swiss francs (about RM78 million) manufacturing plant in Penang today.

Penang Chief Minister Chow Kon Yeow said the new plant, located at the Penang Science Park, is expected to create 500 job opportunities in the manufacturing of advanced current sensors and semiconductor current sensors, known as Integrated Current sensors. 

"LEM’s new facility marks another stride forward in its growth trajectory and represents a substantial investment in the region. 

"This greenfield project is dedicated to manufacturing and testing current sensors, addressing global markets such as automotive, renewable energy, robotics, industrial, and instrumentation sectors," he said in his speech at the opening ceremony of the plant here.

Chow said, since its establishment in 1972 in Geneva, Switzerland, LEM has earned a distinguished reputation as a global leader in providing innovative solutions for measuring electrical parameters. 

He added that the state government is eagerly anticipating the knowledge exchange and skills development in advanced current sensing technologies that LEM will bring to Penang's local workforce.

Chow expressed optimism that LEM would reap significant benefits from its operations in Penang, which is known for its well-developed industrial ecosystem and often referred to as the Silicon Valley of the East.

"Looking ahead, I am confident that LEM's presence in Penang will not only contribute significantly to our economy but also stimulate innovation, promote knowledge transfer, and elevate the skills of our workforce. 

"The partnership between LEM and the Penang State Government exemplifies our shared commitment to sustainable development, technological advancement, and economic resilience," he added.

-- BERNAMA

 

 


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