DENVER--(BUSINESS WIRE)--Oct 3, 2023--
Advanced Energy Industries, Inc. (Nasdaq: AEIS), a global leader in highly engineered, precision power conversion, measurement and control solutions, announced that it held a formal groundbreaking ceremony for a new state-of-the-art factory near Bangkok, Thailand. The new facility marks the next phase of Advanced Energy’s global capacity expansion, as it executes its strategy to support future revenue growth.
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Advanced Energy’s 500,000 sq ft facility will manufacture leading-edge power delivery systems for the semiconductor market, and be capable of delivering revenue of up to $1 billion per year (Photo: Business Wire)
The flagship 500,000 sq ft facility, at full production levels, is expected to employ roughly 2,500 engineers, technicians and operators and be capable of delivering up to $1 billion in annual revenue. The primary focus of the facility will be on products for the semiconductor market. Over time, products for industrial and medical applications are also planned to be produced at the facility.
“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 labor force, Rojana Laem Chabang, Thailand is the ideal location for our new flagship manufacturing facility,” said Steve Kelley, Advanced Energy’s president and CEO, during the ceremony.
The groundbreaking was attended by members of Advanced Energy’s senior management and representatives from multiple AE customers, key suppliers, and local partners including from the Laem Chabang industrial estate where the factory is being built.
About Advanced Energy
Advanced Energy Industries, Inc. (Nasdaq: AEIS) is a global leader in the design and manufacture of highly engineered, precision power conversion, measurement and control solutions for mission-critical applications and processes. Advanced Energy’s power solutions enable customer innovation in complex applications for a wide range of industries including semiconductor equipment, industrial production, medical and life sciences, data center computing, networking and telecommunications. With engineering know-how and responsive service and support for customers around the globe, the company builds collaborative partnerships to meet technology advances, propels growth of its customers and innovates the future of power. Advanced Energy has devoted four decades to perfecting power. It is headquartered in Denver, Colorado, USA.
For more information, visit www.advancedenergy.com.
Advanced Energy | Precision. Power. Performance. Trust.
View source version on businesswire.com:https://www.businesswire.com/news/home/20231003873467/en/
CONTACT: For press inquiries, contact:
Simon Flatt
Grand Bridges for Advanced Energy Industries, Inc.
aei@grandbridges.com
+1 415 800 4529
KEYWORD: COLORADO THAILAND UNITED STATES NORTH AMERICA ASIA PACIFIC
INDUSTRY KEYWORD: OTHER MANUFACTURING TECHNOLOGY SEMICONDUCTOR ENGINEERING OTHER ENERGY OTHER TECHNOLOGY MANUFACTURING ENERGY HARDWARE
SOURCE: Advanced Energy Industries, Inc.
Copyright Business Wire 2023.
PUB: 10/03/2023 07:00 AM/DISC: 10/03/2023 07:03 AM
http://www.businesswire.com/news/home/20231003873467/en
