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ENVX - Enovix partners with YBS International Berhad in Malaysia
Enovix Corporation
2023-03-29 14:22:16 ET
Enovix ( NASDAQ: ENVX ) said it had signed a non-binding Letter of Intent with a Malaysia-based investment holding firm, YBS International Berhad, under which the latter will take a significant financial stake in the first manufacturing line at Fab-2, called Gen2, Line 1.
Under the LOI, Enovix will locate Fab-2, its high-volume manufacturing facility, in an existing YBS building located in Penang, Malaysia, at the Penang Science Park.