CAPE EMS lands multi-year Thermo Fisher manufacturing deal through iConn

CAPE EMS Berhad said it completed a contract manufacturing agreement and an initial project addendum with Thermo Fisher Scientific through its subsidiary iConn Technologies. The deal formalizes a four-year relationship and expands CAPE EMS’s life sciences push across the U.S., Europe and Asia.

Why it matters: - The Thermo Fisher agreement gives CAPE EMS a formal multi-year foothold in life sciences manufacturing. - The deal supports the group’s Intelligent Manufacturing Network strategy and its broader CEB 2.0 transformation. - CAPE EMS said the engagement could strengthen Malaysia’s role in advanced life sciences development and manufacturing.

What happened: - CAPE EMS Berhad announced the completion of a Contract Manufacturing Agreement and an initial project addendum with Thermo Fisher Scientific. - The agreement was fully executed on 20 October 2026 and took effect on 20 August 2026. - The initial addendum was fully executed on 2 November 2026 and became effective on 23 October 2026. - iConn Technologies, a wholly owned subsidiary of CAPE EMS Berhad, developed the relationship over four years. - The agreement was signed by Greg Sachs, vice president of procurement at Thermo Fisher Scientific, and Turker Hidirlar, CEO of iConn Technologies, on behalf of CAPE EMS Berhad.

The details: - The initial term runs three years and can be extended for two additional one-year periods by mutual agreement. - The engagement covers multiple Thermo Fisher Scientific life sciences businesses. - The work follows an evaluation and contract development process with Thermo Fisher Scientific’s global procurement team and participating businesses. - iConn’s scope includes research and development support and production activities in the United States, Europe and Asia. - The work covers technically demanding components, complex electromechanical assemblies, finished products and integrated systems. - iConn works with customer teams on technical challenges and manufacturing methods, including efforts to improve production yields and manufacturability. - The commercial relationship already includes recurring monthly supply, production, first-article parts and research and development work across selected Thermo Fisher Scientific businesses. - Purchase orders have been received and fulfilled, with ongoing engineering support and manufacturing execution. - CAPE EMS said the award tied to the initial signed project addendum was communicated in May 2026. - Additional engagements supported by purchase orders are being documented through further project-specific addendums, subject to agreement and execution. - Where first-article approval or other manufacturing qualifications are required, production remains subject to those requirements being met.

Between the lines: - The announcement formalizes an established customer relationship rather than creating a new one from scratch. - CAPE EMS is signaling that life sciences is becoming a larger part of its portfolio alongside electronics manufacturing, renewable energy and Internet of Things operations. - The company is also flagging execution risk, including qualification delays, demand changes, supply chain disruption and technical or quality issues. - CAPE EMS said development and production spending may come before customer receipts, which could increase working-capital needs.

What’s next: - iConn said it has been preparing with targeted capability development, specialist recruitment and capacity planning. - Selected engineering and operational resources have already been allocated to execution. - CAPE EMS said more addendums and manufacturing approvals may follow, depending on customer requirements and contract milestones. - The company said it will make further announcements if required under disclosure obligations.

The bottom line: - CAPE EMS is turning a long-running Thermo Fisher relationship into a more formal, multi-year manufacturing platform with room to expand if milestones, approvals and demand hold.