Boston Scientific details Malaysia expansion plans

Boston Scientific (NYSE:BSX) is expanding into Penang, Malaysia with a new 375,000 square-foot manufacturing facility, according to a report from the New Straits Times. The venture marks the Marlborough, Mass.-based company’s 1st foray into manufacturing in the Asia Pacific region, according to the report, and will be an essential part in the company’s expansion into the area. The new facility will be located in the Batu Kawan Industrial Park, with an expected completion date in the 4th quarter of 2017. The facility is slated to manufacture cardiology and endoscopy devices, and cater to the needs of the region, according to the report. “Penang came up as the best location for our first manufacturing facility in Asia as it enables us to expand our global presence in AMEA as well as provide support for local research and development and new business development. Our investment in Malaysia is driven by the country’s good business environment, a well-established manufacturing infrastructure and a growing medical sector. Under the 11th Malaysia Plan, the medical device industry is identified as a key to rapid growth alongside the aerospace, chemical, electronics and machinery sectors,” operations veep Dave Mitchell told the paper. “The initial phase includes building the capacity to produce medical devices. We are evaluating subsequent phases to confirm the best mix of products to develop in the Penang facility.” The new facility is expected to bring...
Source: Mass Device - Category: Medical Equipment Authors: Tags: Business/Financial News Boston Scientific Source Type: news