According to a statement released by the Malaysian Investment Development Authority (MIDA) on Wednesday, Osram announced an additional investment of 3bil euros by the year 2020. The remainder 2bil euros will be used for the group’s global research and development activities.
Osram’s investment is in line with it becoming a semiconductor company following the planned disposal of its traditional lamps and light bulbs business.
“We certainly welcome such expansion by Osram, one of the eight pioneer electronic companies that commenced operations in the Bayan Lepas Free Trade Zone during the early 1970s.
“This project will be beneficial to the country in terms of jobs creation as well as further strengthening the value chain of other local players in the LED industry,” said MIDA CEO Datuk Azman Mahmud.
He added that the project will complete the LED ecosystem in Malaysia, and make the country more conducive for the deployment of high-technology projects.
Malaysia is now gaining prominence as a production hub for LED manufacturers. The development and production of LED cluster in the country covers semiconductor devices for LED, wafer fabrication, lighting products and solutions (LED applications – vehicle lighting, backlights and displays).
Azman said MIDA would provide full support to Osram to ensure the project is successfully implemented and to facilitate the company’s existing operations in Malaysia.
Below is the earlier story:
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