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— Ms. Lim Bee Vian
PERAK, MALAYSIA, September 8, 2022 /EINPresswire.com/ — XP Power, one of many world’s main builders and producers of essential energy options for the electronics trade, has begun building on its newest manufacturing facility in Perak, Malaysia. The Asia III web site would be the firm’s largest facility, representing the most important funding valued at RM228 million for Phase 1, over the span of 5 years. This enlargement is significant in XP Power’s world development technique, growing manufacturing capability to help surging buyer demand throughout areas.
Construction will start in September, with the power anticipated to be absolutely operational by second quarter 2024. The new manufacturing unit enhances the corporate’s current websites in Vietnam, China, the US, and Germany, enhancing the resilience and suppleness of its provide chain. It can even create important employment alternatives within the surrounding area. The manufacturing unit, as soon as accomplished, will make use of roughly 1,200 individuals.
The momentous groundbreaking ceremony was graced by YAB Dato’ Seri Saarani Mohamad, Menteri Besar of Perak; YB Dato’ Shahrul Zaman Datuk Yahya, Perak State EXCO for Industry, Investment and Corridor Development; YB Khairul Shahril bin Mohamed; Perak State EXCO for Youth, Sport, Communication and Multimedia cum State Assemblyman for Bota Constituency; Ms. Lim Bee Vian, Deputy CEO (Investment Development), Malaysian Investment Development Authority (MIDA); Mr. Izran Abdullah, CEO of Make investmentsPerak, and Mr. Oskar Zahn, CFO of XP Power.
Menteri Besar of Perak, YAB Dato’ Seri Saarani Bin Mohamad in his Keynote Address highlighted, “The State Government is focused on the needs of the rakyat. These high impact projects will bring in investments, strengthen the socio-economy and increase job creation. These investments will stimulate the local economy, thus contributing significantly towards the economic recovery of Perak after the COVID-19 pandemic.”
“Drawn by the stability and flexibility of the Malaysian business and investment policies, many MNCs have established their base operations here, including XP Power. Their presence here is a testament to their confidence in Malaysia’s vibrant electrical and electronics (E&E) ecosystem, which comprises players across the value chain, from equipment supplies to assembly and testing. XP Power’s investment in Malaysia will undeniably further strengthen our competitiveness and ensure our industries remain resilient and competitive. We welcome and look forward to have more XP Power’s industry counterparts and similar industries to emulate and leverage Malaysia as their regional supply chain hub.” mentioned Ms. Lim Bee Vian, Deputy CEO (Investment Development) of MIDA.
Mr. Izran Abdullah, CEO of Make investmentsPerak commented “Perak is strategically located at the midpoint between Penang and Selangor which are two economic focal points in Malaysia. We regard this as our advantage as we are able to gain economic spill over from both States and Perak is always ready to support industrial expansion from neighbouring states. Equipped with complete infrastructure, abundance of natural resources, sufficient high-skill talents and a matured industrial ecosystem, Perak is emerging as one of the focal destinations for new investments.”
“Our new facility in Perak is fundamental for XP Power in delivering XP Power’s ambitious growth aspirations over the next 5 to 10 years. The demand for XP Power’s products is strong across the entire power range driven by demand from healthcare, semiconductor and industrial customers. The demand is only increasing in the next decade. XP Power’s completed facility will employ around 1,200 employees and it will be our largest manufacturing facility globally complementing the existing sites in Vietnam, China, the USA and Germany. The company’s management is excited for the future of XP Power and see Perak as a critical stepping stone for the Group.” mentioned Gavin Griggs, CEO, XP Power.
Ms. Noor Suziyanti Saad
Malaysian Investment Development Authority
+60 3-2267 3575
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