FERROTEC HOLDS GROUNDBREAKING CEREMONY FOR ITS NEW FACTORY IN KEDAH, MALAYSIA

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Aug 09, 2022, 12:39 ET

The work begins on a new facility aimed at expanding the Company's position as a global leader in the manufacturing and assembly of cutting-edge materials in the semiconductor manufacturing equipment field.

KEDAH, Malaysia, Aug. 9, 2022 /PRNewswire/ -- Ferrotec Holdings Corporation, a global supplier of materials, components, and precision system solutions, today announced the groundbreaking ceremony to begin construction 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 YB Dato' Wira Dr. Ku Abd Rahman bin Ku Ismail, Senior State Exco of Industrial and Investment, Science, Technology and Innovation and Higher Education; Ms. Lim Bee Vian, Deputy Chief Executive Officer (Investment Development) of MIDA; YBrs. Mr. Noor Ikhsan Bin Abdul Aziz, Chief Operating Officer of Invest Kedah; Dr. Haji Nadzman Bin Mustaffa, President of Kulim Municipal Council (MPKK); YBhg. Dato' Mohd Sahil Zabidi, Group CEO of Kulim Technology Park Corporation Sdn. Bhd.; Mr. Eiji Miyanaga, Chief Executive Officer of Ferrotec Manufacturing Malaysia Sdn. Bhd., and Mr. He Xian Han, Group Chief Executive Officer of Ferrotec Holdings Corporation, as well as other distinguished guests.

"Today's event is a testament of Ferrotec's reputation as a global leader in the manufacturing and assembly industry for the past 42 years. This project does not only demonstrate Ferrotec's confidence in Malaysia's long-term investment propositions, but also the thriving state of the manufacturing industry in Malaysia. We aim to distinguish ourselves from our competitors based on these intangible factors – competitive business environment and cost advantages, well-developed infrastructure and the availability of technical and management talents," said Ms. Lim Bee Vian, Deputy CEO (Investment Development) of MIDA.

Ms. Lim also emphasized that despite facing competition from the low-cost production countries, Malaysian machinery and equipment (M&E) companies continue to thrive in producing high value-added products and integrated services, supporting the needs of the MNCs' in their effort to serve their customers better. MIDA aims to facilitate such companies by facilitating continuous investment opportunities to expand their operation capabilities to improve output quality and volume.

"Ferrotec has seen increasing demand for our products and services in Asia. With the start of construction on this new production facility in Malaysia, 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," said Eiji Miyanaga, Chief Executive Officer of Ferrotec Manufacturing Malaysia Sdn. Bhd.

To continue transforming the industry, the Malaysian Government encourages investors to invest in state-of-the-art technologies that can support advanced manufacturing processes across supply chains.

About MIDA

MIDA is the government's principal investment promotion and development agency under the Ministry of International 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 20 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 Twitter, Instagram, Facebook, LinkedIn 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 www.ferrotec.com

For more information, please contact:

Ms. Zakiah Sajidan
Director, Machinery & Metal Technology Division, MIDA
E: [email protected]
T: +603-2267 3628

Mr. Tom McKee
Marketing Communications Manager
E: [email protected]
T: +1 (408)-964-7700

SOURCE Ferrotec Holdings Corporation