Swiss company LEM will make a RM70 million investment in Penang for its first plant in Malaysia.
The factory will also offer 500 new job opportunities and is expected to be completed in 2024.
On hand to launch the new plant recently was Penang Chief Minister Chow Kon Yeow along with LEM chief executive officer Frank Rehfeld and LEM Board of Directors chairman Andreas Hurlimann
The company also has branches in France and Bulgaria.
Also present was State Exco for Entrepreneurial Development, Trade and Industry Datuk Abdul Halim Hussain, Bukit Tambun assemblyman Goh Choon Aik, InvestPenang chief executive officer Datuk Loo Lee Lian, Chief Minister’s special investment adviser Datuk Seri Lee Kah Choon and Swiss ambassador to Malaysia HE Andrea Reichlin.