TTM Technologies, a leading global manufacturer of printed circuit boards (PCBs), will open a new plant for those products in Penang, Malaysia.
The company focuses on rapid, volume production of technologically advanced PCBs and backplane assemblies, as well as designing and manufacturing high-frequency microwave and radio frequency (RF) components and assemblies.
According to a November 2021 report from Prismark Partners, TTM Technologies is one of the world’s largest PCB manufacturers based on 2020 revenue.
In 2021, the company generated approximately $2.2 billion in net sales and ended the year with approximately 16,100 employees worldwide.
It currently operates a total of 24 specialized facilities in North America and China.
The company focuses on providing time to market and volume production of advanced technology products and offers a comprehensive design, engineering and manufacturing solution to its customers.
This comprehensive design, engineering and manufacturing solution enables its to align technology development with the diverse needs of its customers and enable them to reduce the time it takes to develop new products and bring them to market.
TTM Technologies serves a diversified customer base consisting of approximately 1,600 customers in various markets worldwide, including aerospace and defense, data center computing, automotive components, medical, industrial and instrumentation-related products, as well as as network/communications infrastructure products.
Its customers include original equipment manufacturers (OEMs) and electronic manufacturing service providers (EMS).
The decision to build the new factory is a direct response to growing customer concerns about supply chain resilience and regional diversification, and in particular the need for advanced multilayer PCB sourcing options in lower-cost regions. .
At the same time, the new facility in Malaysia will help customers in their business markets such as networking/telecommunications, data center computing, medical, industrial and instrumentation.
Also having a new manufacturing footprint in Malaysia will provide TTM with an additional growth vector by attracting incremental demand from its new and existing customers seeking high-tech, cost-competitive PCB manufacturing outside of China.
The facility, located at the Science Park in Penang, will be on an approximately 27-acre production site.
The company expects construction to begin in 2022 with equipment installation in 2023.
We expect initial pilot production to occur in the second half of 2023 with volume production beginning in 2024 and gradually ramping up to full Phase 1 capacity of approximately $180 million in revenue in 2025. The factory is planned to support a phase 2 expansion to the upside of 25 percent.