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TTM Technologies’ First Manufacturing Facility Opens in Penang

PENANG: TTM Technologies, Inc. (NASDAQ: TTMI), a leading global provider of technology solutions encompassing mission systems, radio frequency (“RF”) components, RF microwave/microelectronic assemblies, and advanced printed circuit boards (“PCBs”), has officially inaugurated its inaugural manufacturing facility in Penang, Malaysia. With an investment totaling USD 200 million (approximately RM 958 million), the new plant signifies a strategic move to enhance the resilience of the printed circuit board supply chain and to broaden geographic operational scope.

L-R: Mr. Douglas Soder, Executive Vice President and President of Commercial Sector, TTM Technologies, Inc.; Mr. Teik Ming Ng, Vice President and General Manager, TTM Technologies Malaysia Sdn Bhd; Puan Najihah Abas, Executive Director, Investment Promotion of MIDA; Yang Amat Berhormat Tuan Chow Kon Yeow, Chief Minister of Penang; Yang Berbahagia Dato’ Loo Lee Lian, Chief Executive Officer, InvestPenang; Mr. Thomas Edman, President, and Chief Executive Officer, TTM Technologies, Inc., and Mr. Philip Titterton, Executive Vice President and Chief Operating Officer, TTM Technologies, Inc.

Situated across 27 acres within the Penang Science Park, the cutting-edge facility boasts highly innovative and automated PCB manufacturing capabilities. This development is a collaborative effort between TTM and its clientele, aimed at meeting the escalating demand for diversified manufacturing locations and fortified PCB supply chains. Tailored to support mass production needs across diverse commercial sectors such as networking, data center computing, medical, industrial, and instrumentation, the facility signifies a pivotal step in addressing industry requirements.

YAB Tuan Chow Kon Yeow, Chief Minister of Penang, remarked, “Penang takes great pride in hosting TTM’s maiden large-scale, highly automated, and innovative PCB manufacturing plant in Southeast Asia. This choice underscores the confidence foreign investors place in Penang. Renowned for its robust industrial ecosystem, Penang is well-equipped to cater to the evolving needs of industrial players in cutting-edge technologies and growth strategies. I am optimistic about the manifold benefits TTM will derive from its Penang operations, solidifying Penang’s status as the Silicon Valley of the East.”

The opening ceremony, attended by dignitaries including YAB Tuan Chow Kon Yeow, Pn. Najihah Abas of Malaysian Investment Development Authority (“MIDA”), YBhg. Dato’ Loo Lee Lian of InvestPenang, Mr. Thomas Edman, President and CEO of TTM Technologies, Inc., Mr. Philip Titterton, Executive Vice President and COO of TTM Technologies, Inc., along with senior government officials and TTM’s management, marked the inauguration of TTM’s Penang facility.

The establishment of TTM’s Penang plant is projected to create approximately 1,000 employment opportunities across various sectors by 2025. Furthermore, it will foster growth opportunities for local suppliers and enhance the skills of local technical talent in advanced PCB technology solutions. TTM anticipates achieving full run rate revenue of around USD 180 million (approximately RM 855 million) by 2025, with provisions for a Phase 2 expansion, potentially resulting in a 25% capacity increase.

Mr. Sikh Shamsul Ibrahim Sikh Abdul Majid, CEO of MIDA, emphasized the substantial benefits of TTM Technologies’ investment for Malaysia’s electrical and electronics (“E&E”) industry, particularly within the semiconductor sector. The inauguration of TTM’s advanced facility in Penang not only reinforces Malaysia’s E&E industry but also enhances its capabilities in next-generation PCB manufacturing, aligning with the objectives of the New Industrial Master Plan (“NIMP”) 2030.

Mr. Thomas Edman, President and CEO of TTM Technologies, expressed his enthusiasm for the opening of the flagship Penang plant, highlighting TTM’s commitment to delivering innovative technology solutions globally. He emphasized the significance of Penang’s industrial ecosystem, talent pool, and conducive business environment in making it an ideal location for TTM’s expansion.

In addition to meeting industry demands, TTM remains dedicated to safeguarding its employees, community, customers, and the environment. The new facility is designed to minimize energy and water consumption, reducing its carbon footprint by 60% compared to traditional PCB plants, while adhering to stringent environmental standards.

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