UK-founded XP Power, a leader in critical power solutions for the electronics industry, has begun construction on its latest manufacturing facility in Perak, Malaysia. The Asia III site will be the company’s largest facility, representing the biggest investment valued at RM228 million for Phase 1, over the span of 5 years.
This expansion is vital in XP Power’s global growth strategy, increasing production capacity to support surging customer demand across regions. Construction will begin in September, with the facility expected to be fully operational by the second quarter of 2024. The new factory will complement its existing sites in Vietnam, China, the US, and Germany, which the company believe will enhance its supply chain. Upon completion, the site is expected to create significant employment opportunities in the surrounding region employing approximately 1,200 people.
Menteri Besar of Perak, YAB Dato’ Seri Saarani Bin Mohamad in his Keynote Address highlighted, “These investments will stimulate the local economy, thus contributing significantly towards the economic recovery of Perak after the COVID-19 pandemic.”
“Drawn by the stability and flexibility of the Malaysian business and investment policies, many MNCs have established their base operations here, including XP Power. Their presence here is a testament to their confidence in Malaysia’s vibrant electrical and electronics (E&E) ecosystem, which comprises players across the value chain, from equipment supplies to assembly and testing Ms. Lim Bee Vian, Deputy CEO (Investment Development) of MIDA.
“Our new facility in Perak is fundamental for XP Power in delivering XP Power’s ambitious growth aspirations over the next 5 to 10 years. The demand for XP Power’s products is strong across the entire power range driven by demand from healthcare, semiconductor and industrial customers. The company’s management is excited for the future of XP Power and sees Perak as a critical stepping stone for the Group.” said Gavin Griggs, CEO, XP Power.
