- Oops!Something went wrong.Please try again later.
Company exceeds initial estimates on facility size and local hiring to meet rising demand
PENANG, Malaysia, Aug. 4, 2021 /PRNewswire/ -- Lam Research Corporation (Nasdaq: LRCX) today announced the expansion of its global manufacturing capacity with the opening of the company's largest facility in Batu Kawan, Malaysia. This new manufacturing site will allow Lam to work closely with key customers and supply chain partners in the region, while fortifying the resiliency of the company's manufacturing network and supporting growth amid rising demand for semiconductor technology.
"The opening of our new facility in Penang is a critical step we're taking to meet growing demand for our cutting edge technology, expand our global footprint to better serve our customers and position our company for continued growth," said Tim Archer, president and CEO of Lam Research Corporation, who was onsite for the opening of the new facility. "I would like to acknowledge the tremendous efforts of Lam's employees and partners to complete the project on time despite the challenges of the pandemic."
Penang Chief Minister Chow Kon Yeow, who attended a virtual ceremony to mark the opening of the facility, stated, "I am encouraged that more global semiconductor companies are expanding their operations to Penang. It is evident that the state government's efforts to create a sustainable environment, vigorous industrial ecosystem and supportive infrastructure appeals to major investors like Lam."
Chow added that with the presence of Lam, among the first of the world's top wafer fabrication equipment makers to establish a manufacturing facility in the country, Penang will be able to move up the global semiconductor value chain by unlocking new opportunities in front-end semiconductor manufacturing. This creates prospects for more high value job opportunities for the local workforce.
"We are proud that Malaysia continues to fit into reputable foreign companies' growth and business strategy. Lam's investment is a testament to the competitiveness of our broader manufacturing sector," said CEO of Malaysian Investment Development Authority (MIDA), Arham Abdul Rahman. "Despite the COVID-19 pandemic, we remain steadfast in creating an environment that is safe and business friendly. The Government, through MIDA, has been hard at work to entice more higher quality investments globally, particularly in the areas of technology and innovation, like Lam, to propel Malaysia to greater heights along the framework of the National Investment Aspirations (NIA)."
Lam's facility at Batu Kawan, also known as Lam Research International Sdn Bhd (LRI), was initially planned for a built-up area of 700,000 sq. ft. [Facts link] however has now expanded to more than 800,000 sq. ft. to meet rising demand. In addition, the company has expanded initial hiring projections from 350 [Facts link] to over 600 employees by year end to support its growth.
LRI adds to Lam's existing manufacturing sites across the world, in Austria, Korea and Taiwan, and the United States. Lam has already shipped its first modules out of the facility and expects to ramp up production across Lam's entire portfolio of leading-edge products.
LRI's virtual opening ceremony today was attended by civic leaders including US Ambassador to Malaysia, Brian D. McFeeters; and senior leadership from Lam including the company's executive vice president of the Customer Support Business Group and Global Operations, Pat Lord, corporate vice president of manufacturing, Mike Snell and LRI's general manager, Soon Kuek.
About Lam Research Corporation
Lam Research Corporation is a global supplier of innovative wafer fabrication equipment and services to the semiconductor industry. As a trusted, collaborative partner to the world's leading semiconductor companies, we combine superior systems engineering capability, technology leadership, and unwavering commitment to customer success to accelerate innovation through enhanced device performance. In fact, today, nearly every advanced chip is built with Lam technology. Lam Research (Nasdaq: LRCX) is a FORTUNE 500® company headquartered in Fremont, Calif., with operations around the globe. Learn more at www.lamresearch.com. (LRCX-B)
Caution Regarding Forward-Looking Statements
Statements made in this press release that are not of historical fact are forward-looking statements and are subject to the safe harbor provisions created by the Private Securities Litigation Reform Act of 1995. Such forward-looking statements relate to but are not limited: timing of construction and commencement of operations of the new facility; Lam's local sourcing plans as well as the amount of business created by those plans; future customer demand for Lam technology, products, and services; the number and timing of new job opportunities; the size or significance of potential benefits to Lam's operations, business continuity, and speed to solutions that may result from the new facility; local governments' future support for the semiconductor industry and the impact on local job creation and opportunities from such support; the future global demand for semiconductors and wafer fabrication equipment as relates to Lam's products and services specifically and to the wafer fabrication equipment industry generally; future semiconductor supply chain and materials challenges; and the product mix to be manufactured at Lam's Malaysia facilities. These statements are based on current expectations and are subject to risks, uncertainties, and changes in condition, significance, value and effect, such as construction delays, regulatory requirements, and risks related to recruiting and hiring. These statements are further based on current expectations and are subject to risks, uncertainties, and changes in condition, significance, value and effect including those risks and uncertainties that are described in the documents filed or furnished by us with the Securities and Exchange Commission, including specifically the Risk Factors described in our annual report on Form 10-K for the fiscal year ended June 28, 2020 and our Form 10-Q for the quarter ended March 28 and June 27, 2021. These uncertainties and changes could materially affect the forward-looking statements and cause actual results to vary from expectations in a material way. The Company undertakes no obligation to update the information or statements made in this release.
SOURCE Lam Research Corporation