US-based global materials supplier Indium Corp is investing MYR 250 million (USD 56.8 million) in a new manufacturing plant in Penang. The company supplies to the electronics assembly and semiconductor packaging industries, and has been doing business in Malaysia for over 40 years.
The new Penang-based facility, which spans 37,500 square feet, will manufacture finished products such as solder pastes, fluxes, and preforms. The facility is anticipated to commence operation in two phases, with solder paste manufacturing by the end of 2022 and engineered materials manufacturing in 2023. A total of 88 high-value new jobs are expected to be created through the project. Indium Corp’s President and Chief Operating Officer Ross Berntson said this new location would allow Indium Corp to improve lead times for deliveries further while bringing the company closer to its customers in the region, supported by Malaysia’s established supply chain ecosystem for the electronic industry, and expressed his appreciation towards the Malaysian Investment Development Authority (MIDA) for their assistance with this project.
The investment plan was announced during a meeting between Indium Corp and the Trade and Investment Mission (TIM) to the United States delegation.
(Source: The New Straits Times)