LEM Invests in Malaysia for Building Sensor Factory
LEM (SIX: LEHN), a leading manufacturer of current and voltage sensors, is making a significant investment in its future with the opening of a new factory in Penang, Malaysia. This expansion reflects the growing global demand for LEM's products, driven by the increasing need for decarbonization across various sectors.
Key Points:
- Meeting Growing Demand: The new factory is a response to the rising demand for LEM's current and voltage sensors used in automation, automotive, traction, renewable energy, and many other industries. This demand is fueled by the global push towards decarbonization.
- Strategic Investment in Penang: LEM chose Penang due to its established expertise in semiconductor production, creating a strong foundation for their advanced manufacturing needs.
- Significant Job Creation: The factory is expected to create over 500 jobs by March 2025, with initial employment starting at around 70 people in April 2024.
- Growth and Expansion: LEM anticipates exceeding €200 million in sales from this new facility. They also have plans for further expansion on an additional 5,000 sqm of land.
- Advanced Technology and Sustainability: The 11,800 sqm factory boasts a cutting-edge logistic system including automated guided vehicles and will pilot LEM's new ERP system. Furthermore, the factory prioritizes sustainability by generating a portion of its energy through solar panels and adhering to Malaysia's Green Building Index (GBI) standards.
Quotes:
- Right Honourable Mr. Chow Kon Yeow, Chief Minister of Penang: "We are thrilled to welcome LEM, a company known for its dedication to quality, to invest in our region and our skilled workforce."
- Frank Rehfeld, CEO of LEM: "Investing in state-of-the-art facilities is crucial to ensure we can continue manufacturing world-leading products for a rapidly evolving market."
- Andreas Hürlimann, Chairman of the Board of Directors, LEM: "This new factory will significantly enhance our integrated current sensing business and demonstrates our commitment to sustainability through its eco-friendly design."
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Date of record
19 April 2024
