US-based Paramit to develop RM60mil facility in Penang

Factory in the forest: an artist

GEORGE TOWN: Paramit Corp, a US-based medical device manufacturer, is investing RM60mil for a new facility in Penang Science Park, Bukit Minyak.

Paramit Malaysia country manager Thomas La Rose said the new facility would serve as the its main manufacturing facility in Asia.

“Scheduled for completion in June 2016, this second facility of Paramit in Malaysia will position us for rapid growth and expansion to become one of the leading medical device and instrument manufacturer in the region,” he said at the ground breaking ceremony for the company’s new facility in Penang Science Park, Bukit Minyak.

La Rose said that the company decided to set up a new facility in Penang because its customers had indicated that they wanted to expand their medical device operations in Asia-Pacific.

In Malaysia, Paramit has been in operation from its manufacturing facility in the second phase of the Bayan Lepas Free Industrial Zone since 1988, producing electronic and electrical components, including medical device and instruments, for some of the largest and market leaders in the respective industries worldwide.

Outside Malaysia, Paramit has facilities in Morgan Hill, California.

Penang Chief Minister Lim Guan Eng, who officiated the event, said Paramit would grow its workforce in Penang to 800 from 500 now.

“This new facility is for developing some of the world’s most innovative products both in the medical device field and in other markets as well,” he added.