NASDAQ-listed TTM Technologies Inc. is not only capitalizing on the strong electronics ecosystem that Penang provides here but plans to go green in a big way in coping with the adversities of climate change.
Sustainability practices would now be a common theme in TTM’s operations at its flagship plant in the Penang Science Park in Kepala Batas, says its president and chief executive officer Thomas Edman.
He is encouraged by the sustainable initiatives here and as a multinational with a global outreach, it is only fair for TTM to be a responsive employer and subscribe to the environmental, social, and governance (ESG) international standards.
Speaking over a brief video conferencing interview, Edman said that TTM plans to install what is believed to be the largest solar-powered roofing in the state.
It will help power essential services at its plant and if possible, there is a need to expand, the company can consider this, said Edman.
TTM Technologies is globally headquartered in Santa Ana, California with seven locations in the Asia Pacific with Penang being its newest production facility.
While in North America, it has a presence in up to 15 locations, generating jobs of up to 16,000 throughout its locations.
Besides contributing to the industry’s needs, TTM is strongly committed to protecting its staff, community, customers, and the environment.
“To further its sustainability efforts, the new facility is configured to minimize energy and water consumption and will reduce the carbon footprint by 60% when compared to a traditional PCB plant while still meeting rigorous environmental operational standards,” said Edman.
As for the market outlook, Edman said that it is a cyclical nature for its core components such as its mission systems, radio frequency (RF) components, and RF microwave/microelectronic assemblies.
It also produces its niche of advanced printed circuit boards (PCBs).
But what is encouraging is the arrival of Artificial Intelligence in the global marketplace, raising hope for the latest designs in chips and other related tech components.
Edman said that AI can sustain the current growth momentum in the electronics and electrical sectors.
In the latest bourse reports, the tech-heavy Nasdaq gained more than 3%, as it pulled off the improbable five straight weeks of gains, boosted by strength in techs.
AI brings about exciting ventures and possibilities, Edman said, while also agreeing that it must be used responsibly, as fears mount that it can replace humans in jobs.
TTM has made an initial investment outlay of RM958 million in Penang.
Built on 27 acres in Penang Science Park, the firm’s state-of-the-art facility boasts highly innovative and automated PCB manufacturing capabilities.
This project is the result of the close collaboration between TTM and its customers to address the increasing demand for geographical manufacturing diversity and PCB supply chain resilience after the lean spell brought on by the pandemic.
The plant is customized to support mass production requirements in various commercial end markets, including networking, data center computing, medical, industrial, and instrumentation, said Edman.
Penang Chief Minister Chow Kon Yeow when opening the plant, said that Penang has the capacities and capabilities to support the needs of industrial players in next-generation technologies and growth strategies.
The establishment of TTM’s Penang plant will facilitate the creation of approximately 1,000 employment opportunities across various categories for local talent by 2025.
The expansion creates downstream spillover opportunities for the local small and medium enterprises.
TTM anticipates that the new plant will generate full run rate revenue of about US$180 million (RM855 million) by 2025.
Edman noted that Penang’s robust industrial ecosystem, position as the electrical and electronics hub, strong talent pool, and conducive business environment have made the state a preferred location for TTM.
“We eagerly anticipate a longstanding relationship and mutually rewarding partnership with the Malaysian government, our customers, and our critical vendors,” he said.
