Swiss firm Life Energy Motion inaugurates RM78 mil plant in Penang - MIDA | Malaysian Investment Development Authority
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Swiss firm Life Energy Motion inaugurates RM78 mil plant in Penang

Swiss firm Life Energy Motion inaugurates RM78 mil plant in Penang

19 Apr 2024

Switzerland-based electrical measurement technology specialist Life Energy Motion (LEM) unveiled its new RM78 million state-of-the-art manufacturing facility in Penang on Friday.

Situated at Penang Science Park, the plant is aligned with LEM’s growth strategy, which is driven by the increasing global demand for its core products, including current and voltage sensors. This demand stems from the imperative of decarbonization across sectors such as automation, automotive, traction and renewable energy.

As part of its expansion plans, LEM aims to grow its current headcount of 70 people to over 200 by March 2025, with projected sales from the factory exceeding Swiss francs 200 million (RM1.05 billion).

Penang Chief Minister Chow Kon Yeow expressed delight that LEM has chosen to invest not only in the region, renowned for its supply chain resilience and well-developed ecosystem, but also in the acknowledged expertise of its people.

Meanwhile, Sikh Shamsul Ibrahim Sikh Abdul Majid, Chief Executive Officer(CEO) of MIDA, praised LEM’s integration of advanced manufacturing technology and sustainability in its new Penang factory, highlighting it as evidence of Malaysia’s appeal as a prime investment destination.

“This milestone not only propels Malaysia towards a more environmentally conscious future but also fosters collaborations driving technological innovation, economic prosperity, and sustainable development for Malaysia and beyond,” he said.

LEM’s CEO, Frank Rehfeld, emphasized the importance of investing in cutting-edge facilities to produce top-notch products for various fast-growing markets, particularly in uncertain times.

“It is crucial for LEM to increase its resilience and enhance customer service by investing in advanced production facilities and skilled personnel capable of manufacturing the best products to meet the demands of this growing sector,” he added.

Source: The Edge Malaysia