Plexus Expands Presence in Penang, Malaysia with Acquisition of New Facility
NEENAH, WI – Plexus (NASDAQ: PLXS) a global leading provider of design and development, manufacturing, supply chain and aftermarket services, announced the acquisition of a new 432,000 square-foot manufacturing facility in Penang, Malaysia. The facility is adjacent to Plexus’ existing Riverside manufacturing facility in Penang and when combined will result in a 37-acre Riverside campus.
“As part of our ongoing strategic planning process, we carefully evaluate the service offerings of each of our regions to ensure we are meeting our customers’ current and future needs,” said Steve Frisch, Executive Vice President and Chief Operating Officer. “Demand for Plexus’ industry leading solutions in our Healthcare/Life Sciences sector continues to grow, especially in the APAC region. By increasing our presence in Penang, we will have the ability to expand our leadership in this space by creating a new Healthcare/Life Sciences Center of Excellence.”
YJ Lim, Regional President – APAC commented, “As a significant employer in the region, we are pleased to continue expanding our presence in Penang. Plexus offers many exciting opportunities for our employees to collaborate with global teams across the company. We have an innovative culture built around problem-solving and offer our employees the opportunity to discover their potential by partnering with leading companies to bring exciting, life-changing products to reality.”
The total investment for the facility expansion is approximately $40M. The new site is anticipated to be operational by the end of Plexus’ fiscal 2018.