Boston Scientific starts production at Malaysian plant

Boston Scientific (NYSE:BSX) this week launched operations at its Penang, Malaysia-based facilities, the medical device giant’s 1st Asian manufacturing facility, according to a report from The Edge Financial Daily. The 375,000 square foot facility, located in Batu Kawan Industrial Park in Penang, will undergo an official opening ceremony next February, according to the report. Boston Scientific has plans to add as many as 400 new local jobs at the facility over the next 2 years. The plant is designed to produce both cardiovascular and endoscopy products, with plans to expand into urology products in 2018, according to the report. The plant will operate under its limit for the 1st 2 years, Boston Scientific Malaysia manufacturing & distro GM Dave Mitchell told The Edge, slowed mostly by required regulatory approvals. “We expect the plant to operate at 30% of its capacity by 2019. That’s because for each product we move in, it might take a year (to get to market),” Mitchell said. The company agreed to set up a manufacturing plant in Penang in Dec. 2015, according to the report. “We had identified the need a couple of years ago to add capacity to support our global growth. We had then looked around the world and identified what are the appropriate areas for us to invest in. Asia is a significant region for us. The company derives almost 20$ of its global sales from Asia. As we looked at our global footprint, a natural step was to have a manufacturing f...
Source: Mass Device - Category: Medical Devices Authors: Tags: Business/Financial News Boston Scientific Source Type: news