Kuala Lumpur, May 7 (IANS) US-based professional audio equipment maker Bose Corporation Monday announced plans to build its first manufacturing plant in Asia.
The manufacturing plant would be built on a 9.2-hectare site in Batu Kawan in Malaysia's industrial Penang state and is scheduled to open by mid-2013, reported Xinhua.
"We know Malaysia is the right place for our investment as the country knows how to protect it," Bose Corp's manufacturing and global supply chain Vice President Bryan Fontaine told a press conference.
He said the company is "reconsidering its footprint in the US", although it has not closed any operations there.
Fontaine, however, declined to disclose the size of the company's investment in Malaysia.
Bose's plant in Penang would be a distribution hub for its Asia Pacific business in Australia, China, India, Japan, the UAE and the Asean countries.
The company currently runs five manufacturing facilities, two in the US, two in Mexico and one in Ireland.
Founded in 1964, the company employs over 9,000 staff and recorded over $2.5 billion in annual sales last year.