SANTA ANA, CA -- TTM Technologies will invest $130 million in a new, state-of-the-art, highly automated printed circuit board manufacturing facility in Penang, Malaysia, in response to customers’ increasing concerns about supply-chain resiliency and regional diversification, and the need for advanced multilayer PCB sourcing options in lower-cost regions.

The facility, located at the Science Park in Penang, will be on a 27-acre production site. Construction is expected to begin in 2022 with equipment installation in 2023. Initial pilot production is slated for the 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.

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.

“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.”

TTM expects total capital spending for this facility will be $130 million between 2022 through 2025. It has received a number of long-term customer commitments, which helped spur the decision to build.

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