KUALA LUMPUR: Ferrotec Holdings Corp, a global supplier of materials, components, and precision system solutions, has plans to establish a new manufacturing facility in Kulim Hi-Tech Park in Kedah.

       In a statement, the Malaysian Investment Development Authority (Mida) said it will facilitate the setting up of the plant, which will undertake electromechanical assembly and advanced material fabrication for semiconductor equipment.

       The plant, which is expected to begin operations in 2023, is expected to span more than 80,000 sq ft and incur an investment of more than RM500mil.

       According to Mida, the project is expected to create about 250 high-value jobs for Malaysians.

       As a Tier-1 company supplying to MNCs in semiconductor industry, the company has committed to provide trainings to Malaysian employees at the factories in Japan and the US, it added.

       "Ferrotec's decision on choosing Malaysia as a destination of choice for its high-tech manufacturing facility speaks volumes of our talent readiness, strength and capability of our manufacturing and business ecosystems.

       "Indeed, Ferrotec's presence in Malaysia will turbocharge our local talent development and strengthen our value proposition in the global

       supply chain,” said senior minister and International Trade and Industry Minister Datuk Seri Mohamed Azmin Ali.