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Press Release

 
STRATEGIC PARTNERSHIP HELPS SPUR THE GROWTH OF
NATIONAL AEROSPACE INDUSTRY

Cyberjaya, 08 May 2009:Composites Technology Research Malaysia Sdn. Bhd. (CTRM), a manufacturer of composites components for Airbus and Boeing aircrafts, based in Melaka, is set for substantial growth with more business contracts to be secured within the next two years. The Company is currently expanding its manufacturing activity by adding a 150,000 sq. ft. of new floor space. The combined floor space of 500,000 sq. ft. is expected to generate revenue of RM390 million in 2010, a 59% increase from 2008 revenue.

The current book order of CTRM from various customers for the manufacture of Airbus and Boeing parts stood at RM2.8 billion, and the expansion is expected to bring in additional business over the next decade and beyond. The growth will also create new job opportunities as the Company is planning to recruit 5% more new employees within the next year, to add into its current work force of 1,200 employees.

One of the major customers of CTRM, Spirit AeroSystems (Europe) Limited plays a big role in the growth plans of CTRM. The Company has developed a new facility in Subang under Spirit AeroSystems Malaysia Sdn. Bhd and is part of the Spirit AeroSystems Inc., which is the largest independent supplier of aerostructures and systems in the commercial aviation market.

Spirit Europe is currently CTRM’s biggest customer, and its decision to open up a facility in Malaysia has had a catalytic effect on the whole Malaysian Aerospace industry.

“We have had a close relationship with Spirit for a number of years and see them as a business partner as well as our most valued customer” said Datuk Rosdi Mahmud, from CTRM “Because they are a Tier One supplier, who delivers products directly to Airbus and Boeing, their presence in Malaysia creates many new opportunities for CTRM and this is one of the main reasons behind the expansion of our production facility at Melaka”

The close cooperation between CTRM and Spirit has not only been centred around work packages, but also extends to developing the technology and training required to improve the knowledge and capabilities of the country’s human capital.

The business activities of both companies are complementary in nature as CTRM focuses in the detail manufacturing of the composite components, which Spirit Malaysia then integrates into wing subassemblies for a number of Airbus aircraft. The alliance of the two companies has to be seen as a significant contributor to the growth of the aerospace industry in Malaysia.

The Cabinet Committee on Investments chaired by the Prime Minister, Dato’ Sri Mohd Najib Tun Razak, has also been instrumental in attracting foreign direct investments in the high technology area such as the aerospace industry, which has such a profound and positive knock-on effect on Malaysian companies like CTRM.

The involvement of the Prime Minister through the Cabinet Committee of Investments is further supported by the relevant agencies such as the Malaysian Industry – Government Group for High Technology (MIGHT), the Malaysian Industrial Development Authority (MIDA) and the Ministry of Finance. The enthusiasm shown by the Prime Minister and the Committee and the agencies has ensured that the Malaysian aerospace industry will continue to grow and play a significant part in the development of our nation.

 
 
 
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