Haemonetics Corporation (www.haemonetics.com) has announced their investment project to set-up a medical devices manufacturing facility in Penang, Malaysia. The proposed facility will be located at a 12-acre plot in the Batu Kawan Industrial Park, Penang. The investment will involve hundreds of millions of ringgit with a headcount of 700. The facility will be completed by end of 2014 and production will start Q1 2015.
Haemonetics Corporation (a NYSE listed U.S. medical devices manufacturer) was founded in Massachusetts U.S. in 1971. They have around 3800 employees worldwide at the moment and they market their products in over 50 countries in the world.
Haemonetics is one of the world largest producers for blood management systems and related consumables, providing end-to-end blood donation and hospital solutions from data management to cell salvage, diagnostics, and remote inventory. The company recently announced 34% net revenue growth for fourth quarter fiscal 2013 (ending March 31, 2013) with projected fiscal 2014 revenues at a high end of US$1B.
The proposed Penang project will be their first facility in Asia and the most comprehensive campus worldwide, producing whole range of products for the global market.
Haemonetics has chosen to construct its world-class facility for manufacturing Whole Blood and Apheresis devices in Penang, Malaysia which offers the firm proximity to customers in its fastest growing markets and to a number of key suppliers and medical equipment manufacturers.
David Helsel, Executive Vice President of Global Manufacturing , said, “Much of our revenue growth is coming from emerging markets and the selection of Penang, Malaysia for our manufacturing site brings us closer to our customers in the region. It makes for much leaner, more efficient operations.”
Sudhakar Varshney, Vice President of Global Engineering, stated:”Penang offers good infrastructure, well-established supply chain and highly skilled workforce from which to serve our emerging market customers. We are excited to be part of the strong medical ecosystem of the state.”
This investment is a noteworthy success of invest Penang’s efforts in collaboration with federal agencies like MIDA in attracting a world-class international company in a specialised field such as medical device field a sunrise industry.