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TTM Technologies to Build New Manufacturing Facility in Malaysia
March 2, 2022 | TTM Technologies, Inc.Estimated reading time: 1 minute
TTM Technologies, Inc. announced that it will open a new, state of the art, highly automated printed circuit board (PCB) manufacturing facility in Penang, Malaysia. The decision to build this new factory is a direct response to our customers’ increasing concerns about supply chain resiliency and regional diversification, and, in particular, the need for advanced multi-layer PCB sourcing options in lower cost regions.
The new facility in Malaysia will assist customers in our commercial markets such as networking/telecom, data center computing, medical, industrial, and instrumentation. Having a new manufacturing footprint in Malaysia will also provide TTM with an additional growth vector by attracting incremental demand from our existing and new customers looking for cost competitive, high technology PCB manufacturing outside of China.
The facility, located at the Science Park in Penang, will be on a production site of approximately twenty-seven acres. We expect construction to begin in 2022 with equipment installation in 2023. It is our expectation that initial pilot production will occur in second half of 2023 with volume production commencing in 2024 and gradually ramping to full Phase 1 capacity of about $180 million revenue in 2025. The factory is planned to support a 25% upside Phase 2 expansion.
“As many of our customers have been more focused on the reliability of their supply chains, I am excited to announce that TTM will build a new manufacturing facility in Malaysia to offer our commercial customers an alternate lower cost manufacturing region for sourcing advanced PCBs,” said Tom Edman, CEO of TTM. “Not only will this facility provide a new opportunity for growth, TTM will be regionally more diversified, providing more long term stability, and further improving our position to serve the needs of all stakeholders – customers, suppliers, investors and employees.”
We expect that the total capital spending for this facility will be $130 million and this investment will be spread between 2022 through 2025. We have already received a number of long term customer commitments as we work to realize our mutual ambition for supply chain resiliency.
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