Germany-based chemicals company Münzing has inaugurated a new wax and polymer emulsions production facility in the Malaysian state of Kedah.
The new facility was constructed with an investment of €50m ($54.93m) by the family owned business, which says the project has created 50 new jobs in the region. The factory is in Bukit Selambau Industrial Park and is the company’s largest facility in Asia.
The first samples were produced on-site at the end of October 2022 and Münzing hopes to reach full production by the third quarter of 2023. The company says it will eventually produce 100 products at the site, which are predominately used in the construction industry and for architectural paints.
Münzing has production facilities in Germany, the US, Australia and now Malaysia. It also has offices in Brazil, China, India, Italy, Luxembourg, Poland, South Korea and Spain.
Malaysia received record volumes of inward investment in 2022, with it being a beneficiary of foreign direct investment moving away from China due to ongoing tensions with the US, and an international trend for companies nearshoring their supply chains.
Münzing noted the many trade treaties Malaysia has with neighbouring countries including China and India as a motivation for selecting the country as the site for its new factory.