Printed circuit board maker TTM Technologies Inc. has acquired a 750,000-square-foot facility in Eau Claire, Wisconsin, as well as land rights for an additional future manufacturing site in Penang, Malaysia.
Financial details were not released by the Santa Ana-based company (Nasdaq: TTMI).
TTM said in a July 9 statement that the investments support TTM’s strategy to offer “regionally optimized, globally connected manufacturing solutions for our customers” while diversifying beyond China.
Two days earlier, TTM said work is progressing on a new printed circuit board production facility in Syracuse, New York. The company said it remains “on track as we enter a pivotal summer.”
TTM posted Q1 revenue of $648.7 million, a 14% increase year over year. Second quarter results will be released on July 30, with analysts predicting revenue growth of $20 million for the period.
TDK Wisconsin Previous Owner
The Wisconsin facility was previously owned and operated by TDK Corp. for the production of disk drive products.
TTM said the facility enhances the company’s ability to support future high-volume U.S. production of advanced technology PCBs across key markets, particularly data center computing and networking for generative artificial intelligence (AI) applications.
“The Eau Claire facility represents a critical leap forward in TTM’s ability to support customers requiring high volume, advanced technology U.S. PCB manufacturing,” said Tom Edman, president and CEO of TTM Technologies.
“Because the infrastructure is already in place, we can accelerate the deployment of equipment and capabilities to meet growing demand for reliable, North American supply.”
Production Site for Penang
Additionally, TTM said it has acquired land rights for 10 acres in Penang to establish a new production site that aligns with customers’ increasing interests in supply chain diversification beyond China.
“With a diversified production network spanning North America and Asia, TTM is uniquely positioned to provide the scale, flexibility and supply chain security that global customers demand,” a company spokesperson told the Business Journal on July 11.
The future Penang facility will be near TTM’s existing site there and is expected to support similar commercial markets such as data center computing, networking and medical, industrial and instrumentation.
Shares in TTM Technologies were trading at $45.03 each for a market cap of $4.7 billion on July 18. The company’s stock has more than doubled since May.
TTM makes circuit boards, the internal parts that hold chips and other electronic components, for networking gear, computers, medical devices and aerospace parts.
The company’s products also include mission systems, radio frequency (“RF”) components and RF microwave/microelectronic assemblies, in addition to “technologically advanced printed circuit boards.” n