Grand Inauguration of Comet Technologies Malaysia

September 22, 2022

Comet today announced a major manufacturing expansion in Penang, Malaysia, adding 30,000 square feet and about 200 employees. The announcement was made at the official inauguration of our initial investment in Penang, which was celebrated in the presence of 250 distinguished guests at Comet's existing facility in Taman Perindustrian Batu Kawan, Penang.

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During the inauguration ceremony, the Chief Minister of Penang, Right Honourable Mr. Chow Kon Yeow said: “Given the proliferation of digitalisation that drives the heightened demand in both industry and society alike, Comet is poised to unleash its potential in this fast-growing digital world. Penang is pleased to be the location of choice for Comet, serving as an acknowledgement of the skilled talent, well-developed infrastructure and resilient environment the state holds.”

“Celebrating the 50th anniversary of Penang’s industrialisation this year, the state, via InvestPenang and other relevant state machineries, is committed in providing unwavering support to the investors, while pledge to hold sustainability as one of our key priorities to unleash greater potential for the next 50 years and beyond,” Chow elaborated.

"Further expansion of our presence in Asia is key for Comet, as several of our OEM customers have significant manufacturing operations in Asia," said Stephan Haferl, CEO of Comet Group. To meet increasing demand and capitalize on opportunities in this fast-growing region, Comet will rent additional 30,000 square feet at the current location in Penang to produce critical high frequency components. This decision was made because the long-term growth drivers for semiconductor and electronics demand are intact despite the current uncertainties in the world.

The expansion will function as a manufacturing and service center for high frequency components, a key product used to control plasma processes for microchip manufacturing.  "We are excited about the continued experience in Penang," said Chai Huat Yeoh, general manager of Comet Malaysia. "We expect to create another 200 jobs over the next 3 years.”

“I would like to express my special thanks for the support rendered by the Penang government, the Comet team at the Malaysian Investment Development Authority MIDA, Invest Penang and all our other local partners", Chai Huat Yeoh added.

Datuk Wira Arham Abdul Rahman, Chief Executive Officer of Malaysian Investment Development Authority (MIDA) applauded the company for the continuous confidence and support in establishing the manufacturing facility in Malaysia. “We are confident that Comet Technologies will benefit from Malaysia’s attractive industry ecosystem in semiconductor machinery and equipment. The Government of Malaysia through MIDA, is delighted to host the company and similar global companies and help them maximise new opportunities available across the diversified economy and supply chain” said Datuk Wira Arham.

When completed, Comet will have a total of 60’000 square feet available and employ about 500 people to meet the demand of the semiconductor equipment customers.

Read the full joint media release

For further information please contact

Comet

Media

Investors / Analysts

Ulrich Steiner

VP Investor Relations & Communications

+41 31 744 99 95

Invest Penang

_

Yeoh Bit Kun


Malawi

Ooi Phei Wen

MIDA

_

Ms. Zakiah Sajidan

Director, Machinery & Metal Technology Division, MIDA

+603-2267 3628

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