Press release

LEM announces inauguration ceremony for new production
plant in Malaysia••••••

Ceremony attended by Chief Minister of Penang and senior LEM teamProduction plant of 12,000 sqm to meet growing customer demand globallyo supplying automation, automotive and renewable energy businesseso production and testing of integrated current sensors
o first products expected Q1 2024
Penang, Malaysia, strong base for semiconductor and electronics industries
o talent, infrastructure and export connections
LEM investment around CHF 15 million (MYR 70m) for plant construction and initial
equipment
Plant employs 50 persons at start, expected to grow to around 500 in a few years
Potential for additional R&D capacity

Geneva, Switzerland, and Penang, Malaysia, 23 June 2022 – LEM (SIX: LEHN), a leading global
company in electrical measurement for renewable energy, automation, power network and e-mobility
applications, announces that an inauguration ceremony is being held today in Penang, Malaysia for its
new production plant. The ceremony is attended by the Chief Minister of Penang, the Chairman andCEO of LEM, together with invited guests including the Swiss Ambassador to Malaysia. The project
was first announced in 2020, and today marks a major step in its construction with the first electric
current sensor products expected to come on-line in Q1 2024.
Right Honorable Mr. Chow Kon Yeow, the Chief Minister of Penang, said: “Supply chain resiliency
and well-developed ecosystem are among the key differentiators that made Penang a sustainablelocation for the electrical and electronics (E&E) players. Being a leading company in electricalmeasurement that serves the emerging and high-growth industries, I am confident that LEM would be
able to reap a myriad of benefits from its operation in Penang while complementing the State’spresence in the world map of technology.”“The State, via InvestPenang and other relevant state agencies, is committed to work closely with LEM
to ensure smooth project implementation on the ground,” Chow added.
Andreas Hürlimann, Chairman of LEM, remarked: “We are delighted to be welcomed today by thekey persons in Malaysia who have made this investment process come to fruition so efficiently, despite
the recent pandemic challenges. We selected Penang as a strategic location to improve our supply
chains, increase our resilience and better meet the needs of our customers here in Asia, as well as
Europe and the US. This plant will complement our existing facilities in China, Bulgaria and Switzerland
as we invest in more capacity to achieve our ambitious but profitable growth objectives in the comingyears.”Frank Rehfeld, Chief Executive Officer of LEM, commented: “The talent and experience available
here in Penang will be of significant benefit to LEM, particularly in the domain of semiconductors. Thisplant will be the main testing base for our integrated current sensor (ICS) products which are in great
demand from customers in our automation, automotive and renewable energy businesses. As wedevelop our manufacturing operations here, we may also consider adding R&D investment andcapabilities. We are grateful to everybody who has helped the project reach this important milestone
today.”LEM Holding SA

Page 1/3

The Malaysian Investment Development Authority's (MIDA) CEO, Datuk Arham Abdul Rahman,commended LEM Malaysia on the company's significant milestone, saying, "We are excited to witness
LEM joining and further developing Malaysia's vibrant E&E ecosystem. We are proud that Malaysia,guided by our National Investment Aspirations (NIA), continues to fit into the overall growth strategy ofmajor foreign companies, solidifying our position as an integrated global manufacturing hub for theindustry. We anticipate seeing exciting spillovers from this project, particularly in generating high-skill
employment for local talent, contributing to the socioeconomic upliftment of the community andboosting commercial development in the region. We are deeply appreciative of LEM’s resounding voteof confidence in Malaysia as a preferred investment destination. LEM can be assured that MIDA willrender our full support in facilitating your business in this country.”
Notes to editors:
LEM is celebrating its 50th anniversary in 2022, having been founded in Geneva, Switzerland in 1972.
The company recently announced record annual sales of CHF 373.4 million, further details of which
can be found together with the latest Annual Review by accessing http://www.lem.com/en/investors
Images of today’s event and LEM products can be accessed here:
https://www.dropbox.com/sh/b88amc1sp2gn7pa/AADrOYs_ST8l7IjJNQew73aga?dl=0
LEM – Life Energy Motion
A leading company in electrical measurement, LEM engineers the best solutions for energy andmobility, ensuring that our customers ’systems are optimized, reliable and safe.
Our 1,500 people in over 15 countries transform technology potential into powerful answers. We
develop and recruit the best global talent, working at the forefront of mega trends such as renewableenergy, mobility, automation and digitization.
With innovative electrical solutions, we are helping our customers and society accelerate the transition
to a sustainable future.
Listed on the SIX Swiss Exchange since 1986, the company’s ticker symbol is LEHN.
www.lem.com
Contact: Investment community
Andrea Borla, Chief Financial Officer
Phone: +41 22 706 1250
Email: investor@lem.com
Contact: Swiss Media
Cabinet Privé de Conseils s.a. (CPC)
Nick Miles, miles@cpc-pr.com, direct +41 22 552 46 26, mobile +41 79 678 76 26
Michael Füglister, fuglister@cpc-pr.com, direct +41 22 552 46 29, mobile +41 78 839 07 62
Contact: Malaysian Media
Dreamz Productions Events Management Sdn Bhd
Cheah WY, cheah@dreamz.com.my, mobile 019-478 8232

Contact: InvestPenang
Yeoh Bit Kun / Ooi Phei Wen
Communication and Business Intelligence Division
bitkun@investpenang.gov.my / pheiwen@investpenang.gov.my

LEM Holding SA

Page 2/3

About InvestPenang
InvestPenang is the Penang State Government’s principal agency for promotion of investment. Its
objectives are to develop and sustain Penang’s economy by enhancing and continuously supporting
business activities in the State through foreign and local investments, including spawning viable newgrowth centers. To realize its objectives, InvestPenang also runs initiatives like the SMART Penang
Center (providing assistance to SMEs), Penang CAT Center (for talent attraction and retention) andi4.0 seed fund (a catalyst for the startup ecosystem). For more information, please visit
https://investpenang.gov.my/ and follow InvestPenang’s social media channels: Facebook ; LinkedIn.
About MIDA
MIDA is the government’s principal investment promotion and development agency under theMinistry of International Trade and Industry (MITI) to oversee and drive investments into themanufacturing and services sectors in Malaysia. Headquartered in Kuala Lumpur Sentral, MIDA has
12 regional and 20 overseas offices. MIDA continues to be the strategic partner to businesses inseizing the opportunities arising from the technology revolution of this era. For more information,please visit www.mida.gov.my and follow us on Twitter, Instagram and Facebook, LinkedIn andYouTube channel.

LEM Holding SA

Page 3/3