MKS Instruments Breaks Ground on Super Center Factory in Malaysia

Globe Newswire 24-Oct-2024 4:00 AM

ANDOVER, Mass., United States and KUALA LUMPUR, Malaysia, Oct. 24, 2024 (GLOBE NEWSWIRE) -- MKS Instruments, Inc. (NASDAQ:MKSI), a global provider of technologies that transform the world, the Malaysian Investment Development Authority (MIDA) and InvestPenang today announced that MKS celebrated the groundbreaking ceremony of its super center factory in Penang, Malaysia to support the growing needs of semiconductor equipment for wafer fabrication in the region and globally. The state-of-the-art facility will be located on a 17-acre plot, spanning approximately 500,000 square feet. and will employ approximately 1,000 people. The new factory will be built in multiple phases, with the first phase scheduled for completion in the first half of 2026.

ADUN Bukit Tambun and Director of InvestPenang, YB Goh Choon Aik stated, "Penang, renowned as the Silicon Valley of the East, has cemented its position as a preferred global destination for electronics and electrical investments in Southeast Asia. With a legacy of five decades of industrialisation and a reputation for innovation and technological excellence, the state offers a thriving industrial ecosystem that naturally attracts investors. MKS Instruments' expansion into Penang is a testament to the state's appeal as a preferred investment destination, supported by its robust ecosystem."

YB Tengku Datuk Seri Utama Zafrul Tengku Abdul Aziz, Minister of Investment, Trade and Industry (MITI), welcomed MKS Instruments to Malaysia, stating, "This groundbreaking super center factory is a resounding affirmation of our government's commitment to expediting investors' projects with the able assistance of agencies like MIDA. More importantly, this aligns with our New Industrial Master Plan 2030, which aims to enhance our economic complexity, fostering symbiotic relationships between global companies and local SMEs, and creating high-skilled, high-paying jobs in cutting-edge sectors like engineering and technical fields, for the benefit of Malaysians. I'm confident that these initiatives will catapult our semiconductor sector to the pinnacle of the global value chain, a true 'tour de force' in the world of industry."

Datuk Sikh Shamsul Ibrahim Sikh Abdul Majid stated "This momentous occasion presents a golden opportunity for our machinery and equipment (M&E) companies to showcase their prowess in producing high-value products and integrated services that meet the exacting standards of multinational corporations (MNCs). MIDA remains steadfast in its commitment to supporting and facilitating investments that enhance operational capabilities, ultimately catalysing the meteoric rise of Malaysia's manufacturing sector, a true 'industrial powerhouse' in the making."

"Penang offers an attractive and rapidly growing semiconductor ecosystem, and building a significant presence here is part of our strategic and long-term capital planning," said Dr. John T.C. Lee, President and Chief Executive Officer of MKS. "Adding Penang to our global footprint puts us closer to our customers, suppliers and a robust technology infrastructure, including a deep and talented labor pool, as we continue to spur innovation and enhance our capabilities as a leader across a broad array of semiconductor manufacturing applications."

MIDA reports that for the first half of 2024 (1H2024), the Machinery and Equipment (M&E) sector saw promising growth, with a total of 64 projects approved, amounting to investments valued at RM2.8 billion. These projects are anticipated to create significant opportunities, generating over 3,500 new jobs and contributing to the sector's continued development and expansion in Malaysia.

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 investments. 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.

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.

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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, as amended and Section 21E of the Securities Exchange Act of 1934, as amended, regarding MKS' construction of a factory in Malaysia and the projected timeline. 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.