Nasdaq listed TTM Technologies opens US$200m manufacturing facility in Penang

• Aims to create 1,000 jobs for local talent by 2025
• Plant set to generate approx US$180mil sales by 2025

TTM Technologies, Inc., a leading global manufacturer of technology solutions including mission systems, radio frequency (RF) components and RF microwave/microelectronic assemblies, and quick-turn and technologically advanced printed circuit boards (PCBs), has officially opened its first manufacturing plant in Penang, Malaysia with an investment of US$200 million (RM958 million).

Built on 27 acres in Penang Science Park, the firm’s state-of-the-art facility boasts highly innovative and automated PCB manufacturing capabilities. This project is the result of the close collaboration between TTM and its customers to address the increasing demand for geographical manufacturing diversity and PCB supply chain resilience. 

TTM added that the plant is customised to support mass production requirements in various commercial end markets, including networking, data centre computing, medical, industrial, and instrumentation.

Chow Kon Yeow, chief minister of Penang said, “Penang is proud to be the chosen location for TTM to establish its first large-scale, highly automated, and innovative PCB manufacturing plant in Southeast Asia, which also signifies the confidence that foreign investors have placed in the state.”

He added “Often lauded for its well-developed industrial ecosystem, Penang has the capacities and capabilities to support the needs of industrial players in next-generation technologies and growth strategies. I am optimistic that TTM will reap a myriad of benefits from its operation in Penang, the Silicon Valley of the East.”

The inauguration of TTM’s Penang plant was marked by the official opening ceremony, presided over by Chow; Najihah Abas, executive director, Investment Promotion of Malaysian Investment Development Authority (MIDA); Loo Lee Lian, CEO, InvestPenang; Thomas Edman, president, and CEO, TTM Technologies, Inc.; Philip Titterton, executive vice president and chief operating officer, TTM Technologies, Inc.; senior government officials; and TTM’s senior management.

The establishment of TTM’s Penang plant will facilitate the creation of approximately 1,000 employment opportunities across various categories for local talent by 2025. The expansion is set to generate substantial opportunities for TTM’s local suppliers and will help cultivate the skills of local technical talent in cutting-edge PCB technology solutions.

TTM anticipates that the new plant will generate full run rate revenue of about US$180 million (RM855 million) by 2025. Furthermore, the plant is built to support a Phase two expansion that could result in a 25% increase.  

Sikh Shamsul Ibrahim, CEO, MIDA emphasised, “It brings me great pleasure to underscore the significant benefits TTM Technologies' investment brings to Malaysia's electrical and electronics (E&E) industry, especially within the semiconductor sector. With TTM's expertise in high-tech solutions and advanced printed circuit boards, Malaysia is now a critical player in the global semiconductor supply chain.”

He added that the inauguration of TTM's facility in Penang not only strengthens the growth and resilience of Malaysia's E&E industry but also elevates the country’s capabilities in the next generation of PCB manufacturing.

“This development aligns seamlessly with the strategic objectives outlined in the New Industrial Master Plan 2030, focusing on bolstering the semiconductor ecosystem. It opens avenues for skill development and knowledge sharing among local talent, reinforcing Malaysia's stature on the global stage as a competitive, technologically advanced nation,” Sikh Shamsul said.

Meanwhile, Thomas Edman (pic) said, “The opening of our flagship plant in Penang marks a significant milestone for TTM. We are thrilled to embark on this expansion plan, with a state-of-the-art facility that underscores our commitment to providing our customers with differentiated advanced technology PCB solutions on a global scale. As we step into this new era of innovation and expansion, we are committed to elevating industry standards, meeting customer needs, and propelling TTM’s growth as a new contributor to the Malaysian economy.”

He noted that Penang’s robust industrial ecosystem, position as the electrical and electronics hub, strong talent pool, and conducive business environment have made the state a preferred location for TTM. Due to the outstanding support of the government and the efforts of our employees, TTM is now entering our production ramp only two years after our initial ground-breaking. As TTM builds our presence in Penang, we eagerly anticipate a longstanding relationship and mutually rewarding partnership with the Malaysian government, our customers, and our critical vendors,” Edman said.

Besides contributing to the industry’s needs, TTM is strongly committed to protecting its staff, community, customers, and the environment. To further its sustainability efforts, the new facility is configured to minimise energy and water consumption and will reduce the carbon footprint by 60% when compared to a traditional PCB plant while still meeting rigorous environmental operational standards.