The new facility joining plants in five countries. Accellent currently has 14 manufacturing facilities in 12 U.S. states as well as manufacturing operations in Germany, Ireland, Mexico and the United Kingdom.
"This site will serve as an important hub for our Asia business since several of our key customers are located nearby," said Donald Spence, president and CEO of Accellent. "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."
The company provides fully integrated, outsourced manufacturing services, as well as engineering design, prototyping, assembly, and logistics support, to medical device companies in the cardiology, endoscopy, orthopaedic, and neuromodulation markets.
The company chose Penang both to be close to the growing Asian market and because of the stable political environment, officials said. In addition, Accellent was able to purchase and transform the plant in less than 12 months as a result of support from organizations such as the Malaysian Industrial Development Authority, Invest Penang, and several departments within the State Government of Penang.
"The Penang state government wants to transform Penang into an international and intelligent city, a preferred destination for foreign direct investment," said Yab Tuan Lim Guan Eng, chief minister of Penang. "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 is privately owned and based in Wilmington, Mass.