【Kuala Lumpur＝ Malaysia BIZ Navi】　Ferrotec Holdings (headquartered in Chuo-ku, Tokyo) announced on April 6 its decision to establish a new manufacturing subsidiary, Ferrotec Manufacturing Malaysia (FTMM).

FTMM will be established in Kulim Hi-Tech Park, Kedah, and will engage in metal processing, robot assembly, quartz and ceramics process and manufacturing, machinery body parts cleaning etc. The company is scheduled for set up in April wtih a capital of US$25 million (approximately JPY 3.1 billion). 30% of the company will be owned by Ferrotec Holdings, whereas 40% to its wholly owned subsidiary Ferrotec Corporation in the U.S, and 30% by China's Hangzhou Daiwa Thermo & Magnetic Electronics Co. Mr. Eiji Miyanaga will be the appointed CEO.

Ferrotec has been developing its customer base by setting up sales offices in Malaysia and Singapore, and has been expected to set up a manufacturing base from customers and potential customers in the region. Upon so, Ferrotec decided to do so to expand its business to better cater customer needs. The company also believes that this is an excellent opportunity to acquire speciliaties in establishing itself as a world leader in the manufacturing and assembling advanced materials in the semiconductor manufacturing equipment industry. Ferrotec said that after careful consideration of other potential sites, the decision to choose Kulim Hi-Tech Park in Kedah was based on the cost of land, land size, landscape (in terms of easier functionality) and transportation accesibility.

Info Source：Asia Infonet