Accellent Inc. is expanding its geographic footprint with a move into the Asian market.
The Wilmington, Mass.-based medical device contract manufacturer opened a 65,000-square-foot plant in Penang, Malaysia. It’s the company’s first foray into the Asian market, expanding its global operation to six countries.
President & CEO Donald Spence said that the new plant will serve as an important hub for the company’s Asian business market, since several key customers are located nearby.
"We also expect that this new facility will provide cost-effective solutions for our other global markets and help support our proven track record of bringing customer innovations to market quickly and efficiently," added Spence in prepared remarks.
"The Penang state government wants to transform Penang into an international and intelligent city, a preferred destination for foreign direct investment," YAB Tuan Lim Guan Eng, chief minister of Penang, said in prepared remarks. "We are seeking to broaden our manufacturing base by diversifying into services. To move up the value chain, Penang seeks convergence in products, technology and services. Accellent’s investment speaks directly to our vision of making Penang the location of choice for high-tech manufacturers."
Accellent also has 14 manufacturing facilities in 12 U.S. states and other operations in Germany, Ireland, Mexico and the U.K.