US-based Indium Corp investing RM250mil manufacturing plant in Penang
11 May 2022
Indium Corp, a US-based global materials supplier to the electronics assembly and semiconductor packaging industries, is investing RM250 million in a manufacturing plant in Penang.
The investment plan was announced during a meeting between Indium Corp and the Trade and Investment Mission (TIM) to the United States delegation led by the Senior Minister and Minister of International Trade and Industry (MITI) Datuk Seri Mohamed Azmin Ali.
According to Indium Corp, 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.
The project is also anticipated to create 88 high-value new jobs.
Mohamed Azmin said Indium’s move to establish a presence in Malaysia could not come at a more opportune time towards ramping up Malaysia’s economic recovery.
He said this is particularly so towards furthering Malaysia’s strength in the electronics industry through the advancement of electronics materials solutions and its larger ecosystem.
“Indeed, this development provides a stepping stone for our local electronics industry, in line with our National Investment Aspirations (NIA) and Environmental, Social, and Governance (ESG) goals.
“It is exciting that Indium is currently planning to leverage Malaysia’s capabilities in manufacturing operations and has expressed intentions to establish an R&D innovation lab and training facility, signifying its confidence in the local ecosystem and Malaysia’s high-skilled talent.
“We look forward to this strategic partnership with Indium with its high value-added activities for mutually benefitting outcomes,” he said.
Meanwhile, Indium Corp president and chief operating officer Ross Berntson said the company is proud to continue its more than 40-year history of doing business in Malaysia with this new manufacturing facility in Penang.
Supported by Malaysia’s established supply chain ecosystem for the electronics industry, 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.
“We’d also like to express our thanks to the Malaysian Investment Development Authority (MIDA) for their assistance with this project,” he added.
Source: NST
