US-based Alton Industry to invest RM2b in Malaysia over next seven years
20 Sep 2023
United States-based Alton Industry Ltd Group (Alton) is expanding its manufacturing and research and development (R&D) base into Malaysia, and plans to invest over RM2 billion here in the next seven years.
President and chief executive officer David Lu said construction of the group’s new manufacturing facility in Johor Baru has already begun and is scheduled for completion next year, adding that the facility will also serve as the group’s global R&D centre for its new technology platforms.
“Once completed, Alton is poised for continuous expansion to bolster production capacity and cater to the diverse and ever-growing demand of its global customer base,” he said in a statement following his meeting with Investment, Trade and Industry (Miti) Minister Tengku Datuk Seri Zafrul Abdul Aziz in New York.
He said the company is proud to expand its global footprint to Malaysia.
“This new facility will enable us to support our global customers and allow expansion to other markets quickly.
“The incentives from the federal, state and local governments, in addition to the support in terms of infrastructure makes this a good investment move for the group,” he said.
Meanwhile, Tengku Zafrul welcomed Alton’s significant global expansion, along with their Phase 1 investment commitment of RM500 million.
“Alton’s decision to expand its manufacturing and R&D base in Malaysia reflects its confidence in the country’s attractiveness as an investment destination,” he said.
He added that the investment also aligns perfectly with Malaysia’s recently launched New Industrial Master Plan 2030, which aims to create an investment-friendly environment and rapidly embrace technology to elevate the manufacturing sector’s ecosystem
Malaysian Investment Development Authority (Mida) chief executive officer Datuk Wira Arham Abdul Rahman said Mida is ready to provide the necessary support to Alton to ensure the seamless execution of its investment project in the country.
Alton produces a diverse range of commercial and consumer tools, hardware and equipment, along with home appliances and floor care products.
The group operates in over 75 countries worldwide, with offices in China, Japan, Hong Kong, Europe and the United States.
Source: Bernama
