Alleima strengthens its presence in Malaysia to support growing medical market
To meet the growing demand, Alleima, a trusted partner of leading medical device manufacturers, will establish a production footprint for its medical business in Asia by opening a new facility in Penang, Malaysia. This operation will further strengthen the company’s precision wire manufacturing capacity to develop life-changing medical solutions with its partners and is expected to be fully operational in 2026.
Alleima’s history goes back decades within the medical segment. The company’s ultra-fine medical wire is used in applications in various fields of medical technology, such as remote patient monitoring, vascular therapy, sensing and neurostimulation, where innovative and high-quality solutions are developed in close collaboration with partners.
Penang, in Malaysia, is a growing Asian hub for medical companies. The new production facility will strengthen the ability to capture growth opportunities in the region by increased capacity and improved manufacturing flexibility. The facility will be governed within the Kanthal Division of Alleima.
“The establishment of a manufacturing footprint will allow us to cater to the increasing demand for our medical products which is growing at a high pace. It will be an important foundation to support our long-term strategy to grow our medical business.” says Robert Stål, President of the Kanthal Division.
“The Asian region is the fastest growing market for medical devices in the world because of its aging population, adoption of advanced medical technologies and other economic growth drivers, so of key strategic importance to our business. The demand is already here, and the new footprint will allow us to better collaborate and serve new and existing customers in the region,” says Gary Davies, President of Business Unit Medical in Kanthal.
Site preparations will start before the end of 2024, with commercial deliveries expected in 2026.
Alleima currently produces medical products in Europe and the US. With the added production footprint in Asia, Alleima will expand its geographical presence and further strengthen deliveries within the strategic medical segment.
Sandviken, October 22, 2024
Alleima AB (publ)
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About Alleima
Alleima is a global manufacturer of high value-added products in advanced stainless steels and special alloys as well as solutions for industrial heating. Based on long-term customer partnerships and leading materials technology, we develop products for the most demanding applications and industries. Our offering includes products like seamless steel tubes for the energy, chemical and aerospace industries, precision strip steel for white goods compressors, air conditioners and knife applications, based on more than 900 active alloy recipes. It also includes ultra-fine wires for medical and micro-electronic devices, industrial electric heating technology and coated strip steel for fuel cell technology for cars, trucks, and hydrogen production. Our fully integrated value chain, from R&D to end-product, ensures industry-leading technology, quality, sustainability, and circularity. Alleima, with headquarter in Sandviken, Sweden, had approximately 6,500 employees and revenues of about 21 billion SEK in about 80 countries in 2023. The Alleima share was listed on Nasdaq Stockholm’s Large Cap list on August 31, 2022, under the ticker ‘ALLEI’. Learn more at www.alleima.com.
