TTM Technologies Inc TTMI:NASDAQ

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TTM Technologies Breaks Ground on Malaysia Plant; Planned Investment of $130 Million Through 2025

9:45AM ET 4/25/2022 MT Newswires
TTM Technologies (TTMI) said Monday it started the construction project of a new plant in Penang, Malaysia, with a planned capital investment of $130 million through 2025.

The maker of printed circuit boards and electronics said the plant will be built on 27 acres of land at Penang Science Park. Construction will take 12 to 15 months and pilot production is expected to start in H2 of 2023, with volume production in 2024 and full phase 1 capacity in 2025.

TTM said it expects the plant to achieve full run rate revenue of about $180 million in 2025.

The project is to meet client requirements for its supply chain diversification beyond China, the company said.

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