US-based Advanced Energy (AE) Industries has broken ground on its new factory near Bangkok, Thailand, to manufacture power delivery systems for the semiconductor market.
The ground-breaking event was attended by AE’s senior management, as well as representatives from multiple AE clients, key suppliers, and local partners.
Covering an area of 500,000ft², the new facility is expected to generate revenue of up to $1bn annually.
AE said the plant marks the next phase of its global capacity expansion, which is also part of the company’s wider strategy to support revenue growth in future.
AE approved a restructuring plan in the fourth quarter of 2022 to enhance its operating efficiencies.
When fully operational, the facility is expected to create approximately 2,500 jobs for engineers, technicians, and operators.
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The factory’s primary focus will be on the production of products for the semiconductor market.
In the long term, the company is also planning to produce products for both industrial and medical applications at the site.
AE president and CEO Steve Kelley said: “Our expansion in Thailand is an important part of our long-term strategy to improve operational efficiency and flexibility.
“With its robust transportation network, an established regional ecosystem of suppliers and subcontractors and a skilled labour force, Rojana Laem Chabang, Thailand is the ideal location for our new flagship manufacturing facility.”
Advanced Energy is engaged in designing and manufacturing precision power conversion, measurement, and control solutions for mission-critical applications and processes.