Lam Research to Expand Global Footprint
February 03 2020 - 10:36PM
Lam Research Corporation (Nasdaq: LRCX), in collaboration with the
Malaysian Investment Development Authority (MIDA) today announced
that Lam has selected Batu Kawan Industrial Park in Penang,
Malaysia as the location for a new advanced technology production
facility.
“MITI and MIDA have been hard at work to entice
more quality investments globally, particularly in the areas of
technology and innovation to propel Malaysia to greater heights.
This project, in particular, will ultimately create new
opportunities for local businesses and vendors as well as
high-value jobs for Malaysians.” said YB Datuk Darell Leiking,
Minister of International Trade and Industry (MITI).
The new facility will be 700,000 square feet at
the initial phase with the opportunity to expand in the
future. Construction is expected to begin in early 2020, with
the first shipment by 2021. With the new facility, it is
projected that there will be up to approximately 350 jobs added
over the next three years, including roles in manufacturing,
facilities and on-site shipping and receiving.
The Minister of Finance, YB Mr Lim Guan Eng,
said, “The establishment of Lam Research’s new advanced technology
production facility in Batu Kawan is a mark of confidence in the
capacity and promise of sustainable growth of the Malaysian
economy, especially in the manufacturing sector. We are confident
that Malaysia’s attractive talent pool, facilitative investment
environment, as well as its deep integration with the international
supply chain, offers the right mix for the high-tech sectors.”
Lam’s global operations are essential to its
success in quickly delivering innovative technologies to its
customers worldwide. This expansion adds to Lam’s existing global
production footprint with locations in the United States, South
Korea, and Austria.
“We are excited to partner with the Government
of Malaysia, specifically with the state of Penang, as we add to
our global footprint,” said Kevin Jennings, Senior Vice President,
Global Operations of Lam Research. “This facility is additive to
Lam’s global operations and enables us to provide additional
capacity, ensure business continuity for critical activities, and
most importantly, improve our speed to solutions by being closer to
customers and suppliers in the region.”
*****About Lam ResearchLam
Research Corporation is a global supplier of innovative wafer
fabrication equipment and services to the semiconductor industry.
As a trusted, collaborative partner to the world’s leading
semiconductor companies, we combine superior systems engineering
capability, technology leadership, and unwavering commitment to
customer success to accelerate innovation through enhanced device
performance. In fact, today, nearly every advanced chip is built
with Lam technology. Lam Research (Nasdaq: LRCX) is a FORTUNE 500®
company headquartered in Fremont, Calif., with operations around
the globe. Learn more at www.lamresearch.com. (LRCX-B)
About MIDAMIDA is the
government's principal promotion agency under the Ministry of
International Trade and Industry (MITI) to oversee and drive
investments into the manufacturing and services sectors in
Malaysia. Headquartered in Kuala Lumpur Sentral, MIDA has 12
regional and 20 overseas offices. MIDA continues to be the
strategic partner to businesses in seizing the opportunities
arising from the technology revolution of this era. For more
information, please visit www.mida.gov.my and follow us on Twitter,
Instagram and Facebook.
Caution Regarding Forward-Looking
StatementsStatements made in this press release that are
not of historical fact are forward-looking statements and are
subject to the safe harbor provisions created by the Private
Securities Litigation Reform Act of 1995. Such forward-looking
statements relate to, but are not limited: timing of construction
and commencement of operations of the new facility, number and
timing of new job opportunities, and benefits to Lam’s operations,
business continuity and speed to solutions that may result from the
new facility. These statements are based on current expectations
and are subject to risks, uncertainties, and changes in condition,
significance, value and effect, such as construction delays,
regulatory requirements, risks related to recruiting and hiring,
and other risks and uncertainties that are described in the
documents filed or furnished by us with the Securities and Exchange
Commission, including specifically our annual report on Form 10-K
for the fiscal year ended June 30, 2019 and our quarterly report on
Form 10-Q for the fiscal quarter ended September 29, 2019. These
uncertainties and changes could materially affect the
forward-looking statements and cause actual results to vary from
expectations in a material way. The Company undertakes no
obligation to update the information or statements made in this
release.
For media queries, please
contact:
Lam Research |
|
Libra WhiteMedia Relations(510)
572-7725publicrelations@lamresearch.com |
Mr. Ram GaneshInvestor
Relations(510) 572-1615 investor.relations@lamresearch.com |
Malaysian Investment Development
Authority (MIDA)Mr. Jeyasigan Narayanan NairDirector,
Machinery and Metals Division03-2267 6711|
jeyasigan@mida.gov.my
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