COTN COMET Holding AG

Comet to double production capacity in Malaysia

Comet Holding AG / Key word(s): Miscellaneous
Comet to double production capacity in Malaysia

22.09.2022 / 09:15 CET/CEST

Comet today announced a major manufacturing expansion in Penang, Malaysia, adding 30,000 square feet and about 200 employees. The announcement was made at the official inauguration of our initial investment in Penang, which was celebrated in the presence of 250 distinguished guests at Comet's existing facility in Taman Perindustrian Batu Kawan, Penang.

 

"Further expansion of our presence in Asia is key for Comet, as several of our OEM customers have significant manufacturing operations in Asia," said Stephan Haferl, CEO of Comet Group. To meet increasing demand and capitalize on opportunities in this fast-growing region, Comet will rent additional 30,000 square feet at the current location in Penang to produce critical high frequency components. This decision was made because the long-term growth drivers for semiconductor and electronics demand are intact despite the current uncertainties in the world.

 

The expansion will function as a manufacturing and service center for high frequency components, a key product used to control plasma processes for microchip manufacturing.  "We are excited about the continued experience in Penang," said Chai Huat Yeoh, general manager of Comet Malaysia. "We expect to create another 200 jobs over the next 3 years."

 

"I would like to express my special thanks for the support rendered by the Penang government, the Comet team at the Malaysian Investment Development Authority MIDA, Invest Penang and all our other local partners", Chai Huat Yeoh added. 

 

When completed, Comet will have a total of 60,000 square feet available and employ about 500 people to meet the demand of the semiconductor equipment customers.

 

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Comet Group
The Comet Group is a globally leading, innovative technology company based in Switzerland with a focus on plasma control and x-ray technology. With premium high-tech components and systems, we enable our customers to both enhance the quality of their products and make their manufacturing more efficient, and eco-friendly. Our innovative solutions are in demand in the semiconductor and electronics market, the aerospace and automobile industry and in security inspection. Headquartered in Flamatt, Switzerland, the Comet Group has a presence in all world markets. We employ more than 1,500 people worldwide, including about 500 in Switzerland. Besides production facilities in China, Denmark, Germany, Malaysia, Switzerland and the USA, we maintain various other subsidiaries in Canada, China, Japan, Korea, Taiwan and the USA. Comet (COTN) is listed on the SIX Swiss Exchange


End of Media Release
Language: English
Company: Comet Holding AG
Herrengasse 10
3175 Flamatt
Switzerland
Phone: 0
E-mail:
Internet:
ISIN: CH0360826991
Valor: 36082699
Listed: SIX Swiss Exchange
EQS News ID: 1447861

 
End of News EQS News Service

1447861  22.09.2022 CET/CEST

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22/09/2022

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