ANDOVER, Mass. and KUALA LUMPUR, Malaysia, June 10, 2024 (GLOBE NEWSWIRE) -- MKS Instruments, Inc. (NASDAQ: MKSI), a global provider of enabling technologies that transform our world, today announced that it is set to build a Super Center factory in Penang, Malaysia to support wafer fabrication equipment production in the region and globally. The development plan is to construct the new facility in three phases, with groundbreaking expected to commence in early 2025.
YAB Tuan Chow Kon Yeow, Chief Minister of Penang, stated, "Often lauded for its well-developed industrial ecosystem, Penang has the capacities and capabilities to support the needs of industrial players in next-generation technologies and growth strategies. Aligning with Penang's ambition to move up the global semiconductor value chain, MKS Instruments unlocks opportunities in semiconductor manufacturing, which creates more high-value job opportunities for the local workforce. I am delighted that MKS Instruments chose to locate its new facility here and I hope the Company will be able to reap many benefits from its operation in Penang, the Silicon Valley of the East."
Mr. Sikh Shamsul Ibrahim Sikh Abdul Majid, Chief Executive Officer of the Malaysian Investment Development Authority (MIDA) shared his excitement about the Company's expansion into Malaysia, stating, "MKS Instruments' decision to build a new facility in Malaysia underscores our nation's growing reputation as a premier destination for advanced technology investments. This new facility highlights Malaysia's attractiveness as a strategic hub for innovation and manufacturing, reflecting the Company's confidence in our highly skilled workforce and favorable business environment."
He added, "Malaysia is blessed with a rich stream of talent and resources, making it an ideal location for high-tech companies like MKS Instruments to expand their operations. MIDA believes the Company's activities in the semiconductor market will significantly enhance the capability of manufacturing processes in Malaysia, aligning with the New Industrial Masterplan 2030 (NIMP2030). MIDA is thrilled to welcome the Company's investment, marking a pivotal step in our work to build a stronger future for Malaysia's advanced manufacturing sector. We look forward to a successful collaboration and invite other industry leaders to choose Malaysia as their preferred investment destination. Together, we will drive mutual growth and further enhance Malaysia's rapidly expanding high-tech ecosystem."
"MKS has a proud history of innovations and inventions that have shaped the evolution of the key industries we serve," said Dr. John T.C. Lee, President and Chief Executive Officer of MKS. "With close proximity to our customers, suppliers and a robust technology infrastructure, Penang is home to a strong semiconductor ecosystem. Expanding our business in Malaysia is an important milestone for our Company as we seek to continue to enhance our capabilities as a leader across a broad array of semiconductor manufacturing applications."
About MIDA
MIDA is the government's principal investment promotion and development agency under the Ministry of Investment, Trade and Industry (MITI) to oversee and drive investments into the manufacturing and services sectors in Malaysia. Headquartered in Kuala Lumpur Sentral, MIDA has 12 regional and 21 overseas offices. MIDA continues to be the strategic partner to businesses in seizing the opportunities arising from the technology revolution of this era. For more information, please visit www.mida.gov.my and follow us on X, Instagram, Facebook, LinkedIn, TikTok and YouTube channel.
About InvestPenang
InvestPenang is the Penang State Government's principal agency for the promotion of investment. Its objectives are to develop and sustain Penang's economy by enhancing and continuously supporting business activities in the State through foreign and local investments, including spawning viable new growth centers. To realize its objectives, InvestPenang also runs initiatives like the SMART Penang Center (providing assistance to SMEs), Penang CAT Center (for talent attraction and retention), and Global Business Services (GBS) Focus Group (promoting and developing digital economy). For more information, please visit https://investpenang.gov.my/ and follow InvestPenang's social media channels Facebook and LinkedIn.
About MKS Instruments
MKS Instruments enables technologies that transform our world. We deliver foundational technology solutions to leading edge semiconductor manufacturing, electronics and packaging, and specialty industrial applications. We apply our broad science and engineering capabilities to create instruments, subsystems, systems, process control solutions and specialty chemicals technology that improve process performance, optimize productivity and enable unique innovations for many of the world's leading technology and industrial companies. Our solutions are critical to addressing the challenges of miniaturization and complexity in advanced device manufacturing by enabling increased power, speed, feature enhancement, and optimized connectivity. Our solutions are also critical to addressing ever-increasing performance requirements across a wide array of specialty industrial applications. Additional information can be found at www.mks.com.
Safe Harbor for Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 regarding MKS' construction of a factory in Malaysia. Any statements that are not statements of historical fact should be considered to be forward-looking statements. Actual events or results may differ materially from those in the forward-looking statements set forth herein, including as a result of the factors described in MKS' Annual Report on Form 10-K for the year ended December 31, 2023 and any subsequent Quarterly Reports on Form 10-Q, as filed with the U.S. Securities and Exchange Commission. MKS is under no obligation to, and expressly disclaims any obligation to, update or alter these forward-looking statements, whether as a result of new information, future events or otherwise, after the date of this press release.
Media Contacts:
MIDA
Ms. Zakiah Sajidan
Director, Machinery and Metal Technology Division
Email: zakiah@mida.gov.my
Tel.: +603 22676769
InvestPenang
Ms. Elaine Cheah
Communications & Business Intelligence
Email: elaine@investpenang.gov.my
Tel.: +604 6468833
MKS Instruments
Mr. Bill Casey
Senior Director, Marketing Communications?
Email: press@mksinst.com
Tel.: +1 630 995 6384?
Ms. Kerry Kelly
Partner, Kekst CNC
Email: Kerry.kelly@kekstcnc.com
