Alleima to establish Asian production footprint for the Medical segment
Alleima has decided to establish a production footprint for its medical business in Asia by opening a new facility in Penang, Malaysia. This will further strengthen the company’s medical wire manufacturing capacity.
The new production facility will enable Alleima to capture opportunities from the growing demand in the region by increased capacity and improved manufacturing flexibility, staying close to customers. Site preparations will start at the end of 2024, with first commercial deliveries in 2026.
Penang, Malaysia, is a growing Asian hub for medical companies. Furthermore, 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.
“This footprint expansion in Asia will be an important foundation to support our long-term strategy to grow our medical business. Demand for our products is growing at a high pace, and the new footprint will allow us to better collaborate and serve both new and existing customers in region,” says Robert Stål, President of Kanthal Division.
Alleima’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.
The facility will be governed within the Kanthal division of Alleima, which currently has production of medical products in Europe and the US.
Sandviken, October 22, 2024
Alleima AB (publ)
Contact details
Emelie Alm, Head of Investor Relations
[email protected]
Phone: +46 (0) 79 060 87 17
Yvonne Edenholm, Press and Media Relations Manager
[email protected]
Phone: +46 (0) 72 145 23 42
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.
