— YAB Chow Kon Yeow, Chief Minister of Penang.
PENANG , MALAYSIA , June 28, 2022 /EINPresswire.com/ — Smith+Nephew, the global medical technology company, today inaugurated its new high-tech manufacturing facility at the Batu Kawan Industrial Park in Penang, Malaysia. The 250,000 square foot facility, worth over $100 million in investment, will primarily support the company’s orthopedic business, which is expected to experience strong growth in the Asia-Pacific region.
The new manufacturing facility was led by Penang Chief Minister YAB. Tuan Chow Kon Yeow, in the presence of Datuk Arham Abdul Rahman, Managing Director (CEO) of the Malaysian Investment Development Authority (MIDA) and Dr Deepak Nath, CEO of Smith+Nephew. Aligning with the renewed pillar of the company’s growth strategy to strengthen its foundations, this new facility will allow Smith+Nephew to serve its customers and their
patients in a sustainable way thanks to state-of-the-art manufacturing. Up to 800 new local jobs in manufacturing, engineering and supply chain will be created over the next few years, with key positions already being filled.
“Penang is delighted to be the location of choice for Smith+Nephew, serving as recognition of the skilled talent, well-developed infrastructure and resilient environment the state holds. Dubbed the Silicon Valley of the East, the state’s strong industrial ecosystem not only enables us to accelerate breakthroughs in the electrical and electronics industry, but also strengthens our position as a medical device hub in the region. In particular, Penang has the highest concentrations of medical technology companies in Malaysia and Southeast Asia. said YAB Chow Kon Yeow, chief minister of Penang.
Datuk Arham Abdul Rahman, CEO of MIDA, congratulated Smith+Nephew on the opening of the company’s new manufacturing facility saying, “Malaysia is very pleased to welcome Smith+Nephew’s manufacturing production to support the the company’s growing orthopedic franchise. This facility will be the company’s first manufacturing venture in Southeast Asia. This demonstrates our ability to attract renowned medical device manufacturers to Malaysia. Smith+Nephew’s presence will also encourage the growth of local businesses and our medical device industry ecosystem, and enhance our reputation as the ideal medical technology manufacturing hub in ASEAN.
Dr. Deepak Nath, CEO of Smith+Nephew, said, “We are delighted to open this new manufacturing facility in Malaysia which represents our commitment to Asia Pacific, Malaysia, our customers and their patients. It is also a key part of our growth strategy, improving efficiency and resilience, and supporting our goal of Life Unlimited so that patients in the region and beyond can return to living their lives to the fullest.
The Smith+Nephew manufacturing facility is a pioneer in sustainability and achieved its goal of zero waste to landfill four years ahead of target. In December 2021, it was recognized by the United Nations Global Compact network for Malaysia and Brunei in the SDG Benchmark 4 category: Zero waste to landfill and incineration. The Malaysian-American Chamber of Commerce for Excellence in Corporate Social Responsibility has also awarded the team an AMCHAM CARES award for creating long-term economic and social value within the community in 2021.
Smith+Nephew is also offering a scholarship to students of the Penang Skills Development Center who will be employed and trained as machinists after graduation.
degree within the company.
Malaysia is well positioned to be the manufacturing hub of the medical device industry in Asia. Currently, Malaysia is home to over 200 manufacturers, with over 30 multinational medical device companies producing high value-added medical devices. Second and third tier medical device manufacturers for medical device parts and components have increased opportunities for local suppliers to be integrated into the global supply chain for this industry.
In 2021 alone, MIDA has approved 38 medical device-related manufacturing projects worth RM7.68 billion ($1.84 billion), which are expected to create around 12,500 employment opportunities for the country. The industry holds great promise for creating high-income jobs, increasing the value of exports, and strengthening the domestic supply chain ecosystem.
Ms Azlina Hamdan
write to us here