FERROTEC HOLDS GRAND OPENING CEREMONY FOR ITS NEW FACTORY IN KEDAH, MALAYSIA
KEDAH, Malaysia, Jan. 16, 2024 /PRNewswire/ -- Ferrotec Holdings Corporation, a global supplier of materials, components, and precision system solutions, today announced the Grand Opening Ceremony to start production of its new manufacturing facility at Kulim Hi-Tech Park, Kedah, facilitated by the Malaysian Investment Development Authority (MIDA). The plant which will be undertaking electromechanical assembly and advanced material fabrication for semiconductor equipment is designed to meet customer needs while also expanding the Group's business globally.
The ceremony was attended by Dato' Seri Haji Muhammad Sanusi Bin Md Nor, Kedah Menteri Besar; Ms. Lim Bee Vian, Deputy Chief Executive Officer (Investment Development) of Malaysian Investment Development Authority (MIDA); Tuan Haji Mohd Zaini Haji Ramli, Kulim District Officer; Dato' Mohd Sahil Bin Zabidi, Group CEO of KTPC; Mr. He Xian Han, President of Ferrotec Holdings Corporation and Group CEO; Mr. Yamamura Takeru, Vice President of Ferrotec Holdings Corporation and Chief Executive Officer of Ferrotec Manufacturing Malaysia Sdn. Bhd.; Mr. He Anzhi, Managing Director of Ferrotec Manufacturing Malaysia.; as well as other distinguished guests.
The Kedah State Menteri Besar YAB Dato' Seri Haji Muhammad Sanusi emphasised, "Kedah is an excellent investment destination not only known for tourism, agriculture, but also manufacturing. The State Development Plan 2035 (KEDAH2035) seeks to achieve high-income status for its people through unleashing Kedah's vast potential, with the private sector playing a pivotal role. Kedah offers a strategic location, skilled workforce, and a supportive environment for companies to flourish. This is evident in our seamless administrative processes and the unprecedented benefits and infrastructures we offer. With the E10 initiative set up to ease investors journey and a strong track record with multinationals already present here, Kedah is no doubt a preferred state for investment."
Ms. Lim Bee Vian, Deputy CEO (Investment Development), MIDA, commended Ferrotec for their unwavering trust and support in establishing their manufacturing facility in Malaysia. "Ferrotec, with its extensive manufacturing footprint, symbolises the diversification of supply chains, reinforcing Malaysia's strategic standing as a location for semiconductor operations. By choosing Malaysia, Ferrotec positions itself to leverage untapped opportunities, foster innovation, and contribute substantially to the ever-evolving semiconductor landscape in our region. We will continue to partner with leading companies to anchor high value-added manufacturing, adopt advanced manufacturing technologies and equip our people with the requisite skillsets. Our partnership with Ferrotec is a good example of how we are doing this."
She further emphasised, "As part of the government's initiative to elevate the manufacturing sector to greater heights and capitalising on emerging global trends, the New Industrial Master Plan (NIMP) 2030 has been introduced as the industrial policy. This seven-year plan adopts a mission-based approach to foster industrial development, identifying Mission-Based Projects that leverage Malaysia's strengths and potential in key industries such as the electrical and electronics (E&E), machinery and equipment (M&E) and chemical."
Meanwhile, Mr. Takeru Yamamura, Vice President of Ferrotec Holdings Corporation and Chief Executive Officer of Ferrotec Manufacturing Malaysia Sdn. Bhd. remarked, "The opening of our flagship plant in Kedah, Malaysia marks a significant milestone for Ferrotec, and we are delighted to share this moment with our valued partners, customers, and the local community. This state-of-the-art production facility has been strategically designed to meet the growing demand for our products and services in the dynamic Asian market.As Ferrotec's first manufacturing location in South-East Asia, the Kedah plant integrates the culmination of 44 years of engineering expertise gathered from our operations in the US, EU, China, and Japan. Our commitment to delivering high-purity materials and precision assembly is a testament to the global standards that define Ferrotec.
We believe that the establishment of the Kedah plant will propel Ferrotec to new heights as a globally recognised international supplier in the Semiconductor Industry. Being part of the vibrant eco-environment in Kedah is a privilege, and we are excited about the prospects that lie ahead. The collaboration with the local workforce underscores our dedication to ensuring a sustainable future for both Ferrotec and the region.Today marks the commencement of a promising journey, as Ferrotec is committed to continue driving its effort to fulfill the increasing capacity demands and improved business continuity that are vital to our customers success.We extend our gratitude to everyone who has been part of this endeavor." he added.
From January to September 2023, the Machinery & Equipment (M&E) industry witnessed substantial investments, amounting to an impressive RM10.8 billion across 63 projects. This included RM9.6 billion from foreign investments and RM1.2 billion from domestic sources. Ferrotec has invested approximately RM850 million in this project creating more than 800 job opportunities, with majority catered towards our local talents.
About MIDA
MIDA is the government's principal investment promotion and development agency under the Ministry of Investment, Trade and Industry (MITI) to oversee and drive investments into the manufacturing and services sectors in Malaysia. Headquartered in Kuala Lumpur Sentral, MIDA has 12 regional and 21 overseas offices. MIDA continues to be the strategic partner to businesses in seizing the opportunities arising from the technology revolution of this era. For more information, please visit www.mida.gov.my and follow us on X, Instagram, Facebook, LinkedIn, TikTok and YouTube.
About Ferrotec
Founded in 1980, on a technology core of Ferrofluid magnetic liquid and Ferrofluidic® sealing products, Ferrotec Holdings Corporation (6890 TSE Standard) is a worldwide leader in the supply of materials, components, and precision system solutions for industrial businesses. Ferrotec is a diversified world-class industrial organization with a global presence in a broad array of technology driven end markets (semiconductors, automotive, biomedical applications, smart phones, LEDs and FPDs). More information about Ferrotec's products can be found at:
For more information, please contact:
MIDA
Ms. Zakiah Sajidan
Director of Machinery and Metal Technology Division
T: 03-2267 6769
E: [email protected]
Ferrotec Manufacturing
Ms. Tan Ai Leng
Associate Director of Ferrotec Manufacturing Malaysia Sdn Bhd
T: 016-456 8439
E: [email protected]
SOURCE Ferrotec Holdings Corporation
WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?
Newsrooms &
Influencers
Digital Media
Outlets
Journalists
Opted In
Share this article