Plexus (PLXS) - Get Report, an electronics manufacturer, said Friday that it entered into a definitive agreement to purchase a manufacturing facility in Penang, Malaysia.

The initial investment of about $13 million for the new facility is expected to be completed in the first quarter of 2007. Additional investments for the improvement and expansion of the building and initial outfitting of machinery and equipment are estimated at $25 million for fiscal 2007, the Neenah, Wis.-based company said.

This will be the company's third plant in Malaysia and will provide an additional 364,000 square feet of manufacturing space to meet the increasing demand from customers for manufacturing and fulfillment products.

The addition of this facility brings the company's manufacturing capacity in Malaysia to about 630,000 square feet. The company expects that production will begin late in the second quarter of fiscal 2007.

The company's shares were trading at $18.37, down 75 cents, or 3.9%.

This story was created through a joint venture between TheStreet.com and IRIS.