TTM Technologies Marks Major Expansion: $130M Manufacturing Hub Coming to Penang, Malaysia

GasGuzzler · 2025-12-31T10:05:01+00:00

TTM Technologies is investing $130 million in a new manufacturing facility in Penang, Malaysia, to enhance PCB supply chain resilience and diversification. Targeting $180 million in revenue by 2025, this expansion aligns with regional growth and local industry strengths.

GasGuzzler

2025-12-31 10:05:01

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TTM Technologies, Inc. (NASDAQ: TTMI), a leading global manufacturer of printed circuit boards (PCB) and RF components, is accelerating its regional strategy with a landmark investment in Southeast Asia. The company held its groundbreaking ceremony on April 25, 2022, for a state-of-the-art manufacturing facility in Penang, Malaysia, committing $130 million in capital investment through 2025.

Why Penang? Strategic Supply Chain Diversification

The expansion reflects a critical shift in global manufacturing. TTM’s decision to establish operations in Penang was driven by customer demands for PCB supply chain resilience and geographic diversification beyond China. After evaluating multiple countries, TTM selected Penang for its established electrical and electronics (E&E) industrial ecosystem, competitive operating costs, proximity to key markets, and robust supply chain infrastructure.

The facility will occupy approximately 27 acres at Penang Science Park and serve global commercial markets including networking communications, data center computing, and medical, industrial, and instrumentation sectors.

Production Timeline and Revenue Targets

Construction is projected to span 12 to 15 months, with equipment installation expected in mid-2023. Here’s the production roadmap:

Second half of 2023: Pilot production launches
2024: Volume production begins
2025: Full Phase 1 capacity achieved, targeting approximately $180 million in full run rate revenue

The facility has been designed with a 25% upside capacity for Phase 2 expansion, signaling TTM Technologies’ confidence in long-term regional growth.

Industry Impact and Regional Strategy

TTM positions itself as an early-mover in Southeast Asia for advanced PCB production, capitalizing on the region’s semiconductor prowess. The Penang investment addresses a critical industry need: as companies seek supply chain resilience amid geopolitical uncertainties and regional tensions, diversifying PCB sourcing beyond traditional manufacturing hubs has become essential.

This move aligns with Malaysia’s broader E&E sector strength. The country has spent five decades building manufacturing excellence, creating a talent pool and supplier network ready to support advanced technology solutions. TTM Technologies’ Penang facility is expected to generate employment opportunities and strengthen local supply chain capabilities while positioning the region as a key hub for high-value PCB manufacturing in the Asia-Pacific market.

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