8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d)

OF THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): March 1, 2022

TTM TECHNOLOGIES, INC.

(Exact name of registrant as specified in its charter)

Delaware	0-31285	91-1033443
(State or other jurisdiction<br>of incorporation)	(Commission<br>File Number)	(IRS Employer<br> <br>Identification No.)

200 East Sandpointe, Suite 400

Santa Ana, CA 92707

(Address of principal executive offices, including zip code)

Registrant’s telephone number, including area code: 714-327-3000

N/A

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Securities registered pursuant to Section 12(b) of the Act:

Title of Each Class:	Trading<br>Symbol(s)	Name of Each Exchange<br>on Which Registered:
Common Stock	TTMI	NASDAQ

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 7.01 — Regulation FD Disclosure.

On March 1, 2022, TTM Technologies, Inc. (the “Company”) issued a press release announcing its entry into an Agreement to Build and Sublease for the development of a manufacturing facility in Penang, Malaysia.

A copy of the press release is furnished with this report as Exhibit 99.1 and is incorporated by reference.

Cautionary Note Regarding Forward-Looking Statements

This Current Report on Form 8-K, including Exhibit 99.1 contains forward-looking statements that relate to future events. The Company cautions you that such statements are simply predictions and actual events or results may differ materially. These statements reflect the Company’s current expectations, and the Company does not undertake to update or revise these forward looking statements, even if experience or future changes make it clear that any projected results expressed or implied in this or other Company statements will not be realized. The statements also involve risks and uncertainties, many of which are beyond the Company’s control, which could cause actual results to differ materially from the forward-looking statements. For a description of additional factors that may cause the Company’s actual events or results to differ from any forward-looking statements, please review the information set forth in the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of the Company’s public reports filed with the Securities and Exchange Commission.

Item 9.01 Financial Statement and Exhibits.

(d) Exhibits

Exhibit<br>No.	Description
99.1	Press release announcing entry into Agreement to Build and Sublease, dated March 1, 2022.
104	Cover Page Interactive Data File (embedded within the Inline XBRL document).

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this Report to be signed on its behalf by the undersigned hereunto duly authorized.

	TTM TECHNOLOGIES, INC.
Date: March 1, 2022	By:	/s/ Daniel J. Weber
		Daniel J. Weber
		Executive Vice President, General Counsel & Secretary

EX-99.1

Press Release	Exhibit 99.1

TTM Technologies, Inc. to Build New Manufacturing Facility in Malaysia

TTM to Offer Customers Alternate Sourcing for PCBs in Lower Cost Regions

Santa Ana, CA – March 1, 2022 – TTM Technologies, Inc. (NASDAQ: TTMI) (“TTM”) today announced that it will open a new, state of the art, highly automated printed circuit board (”PCB”) manufacturing facility in Penang, Malaysia. The decision to build this new factory is a direct response to our customers’ increasing concerns about supply chain resiliency and regional diversification, and in particular, the need for advanced multi-layer PCB sourcing options in lower cost regions.

The new facility in Malaysia will assist customers in our commercial markets such as networking/telecom, data center computing, medical, industrial, and instrumentation. Having a new manufacturing footprint in Malaysia will also provide TTM with an additional growth vector by attracting incremental demand from our existing and new customers looking for cost competitive, high technology PCB manufacturing outside of China.

The facility, located at the Science Park in Penang, will be on a production site of approximately twenty-seven acres. We expect construction to begin in 2022 with equipment installation in 2023. It is our expectation that initial pilot production will occur in second half of 2023 with volume production commencing in 2024 and gradually ramping to full Phase 1 capacity of about $180 million revenue in 2025. The factory is planned to support a 25% upside Phase 2 expansion.

“As many of our customers have been more focused on the reliability of their supply chains, I am excited to announce that TTM will build a new manufacturing facility in Malaysia to offer our commercial customers an alternate lower cost manufacturing region for sourcing advanced PCBs.” said Tom Edman, CEO of TTM. “Not only will this facility provide a new opportunity for growth, TTM will be regionally more diversified, providing more long term stability, and further improving our position to serve the needs of all stakeholders – customers, suppliers, investors and employees.”

We expect that the total capital spending for this facility will be $130 million and this investment will be spread between 2022 through 2025. We have already received a number of long term customer commitments as we work to realize our mutual ambition for supply chain resiliency.

About TTM

TTM Technologies, Inc. is a major global PCB manufacturer, focusing on quick-turn and volume production of technologically advanced PCBs, backplane assemblies and electro-mechanical solutions as well as a global designer and manufacturer of RF and microwave components and assemblies. TTM stands for time-to-market, representing how TTM’s time-critical, one-stop manufacturing services enable customers to shorten the time required to develop new products and bring them to market. Additional information can be found at www.ttmtech.com.

Forward-Looking Statements

This release contains forward-looking statements that relate to future events or performance. TTM cautions you that such statements are simply predictions and actual events or results may differ materially. These statements reflect TTM’s current expectations, and TTM does not undertake to update or revise these forward looking statements, even if experience or future changes make it clear that any projected results expressed or implied in this or other TTM statements will not be realized. Further, these statements involve risks and uncertainties, many of which are beyond TTM’s control, which could cause actual results to differ materially from the forward-looking statements. For a description of additional factors that may cause TTM’s actual results, performance or expectations to differ from any forward-looking statements, please review the information set forth in the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of TTM’s public reports filed with the SEC.

Contacts:

TTM Investors

Sameer Desai,

Vice President, Corporate Development & Investor Relations

Sameer.desai@ttmtech.com

714-327-3050

Press Inquiries

Winnie Ng

Vice President, Corporate Marketing

TTM Technologies, Inc.

+852 2660 4287 / +1 714 327 3000

winnie.ng@ttm.com