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Osram: new factory now operational in Malaysia.

(CercleFinance.com) - Osram's new LED chip factory in Kulim, Malaysia, has begun operations on schedule, the German lighting maker said on Thursday.

In November 2015, Osram announced plans to build the new plant in order to have it up and running by the end of 2017.

A total of 370 million euros have been invested in the first stage of completion and Osram can expand the factory in two additional stages, representing total investments of up to one billion euros.

"We are both on schedule and within budget," pointed out Olaf Berlien, Osram's CEO.

Osram had decided to ramp up the new production facilities, given its recent rapid growth rates in the LED business.

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