PUTRAJAYA: A government-linked company has clinched a RM3.5bil deal to boost its position as a major world player in the airline components manufacturing industry.
In the deal between Composites Technology Research Malaysia Sdn Bhd (CTRM) and US-based Goodrich Corporation, the former will manufacture nacelle components, the enclosed part of an airplane, in the next two decades.
Prime Minister Datuk Seri Najib Tun Razak, who announced CTRM’s success, said it managed to “seal the deal” based on its past performance, work quality and Goodrich’s confidence in its capabilities.
Deal sealed: Najib discussing the product with (from left) CTRM CEO Datuk Rosdi Mahmud, CTRM chairman Datuk Wira Syed Ali Syed Abbas Alhabshee and Goodrich Aerostructures’ Director of Supply Chain Tim Martin at Perdana Putra Friday. “Under these agreements, CTRM will expand its capabilities to include deliveries of larger, more complex components and composite assemblies for long-term programmes and further strategic cooperation between CTRM and Goodrich Aerostructures’ business unit.
“The contracts signed are valued at RM450mil for the next five years. The period of the contracts is the lifespan of the aircraft, and CTRM project contracts are valued at RM3.5bil over 20 years,” he told reporters yesterday.
Najib said the Goodrich contract increased CTRM’s current book order of RM3bil to about RM6.5bil, and it was expected to increase to RM8.5bil by the end of the year.
CTRM, incorporated in 1990 with the Ministry of Finance Incorporated as its principal shareholder, is entrusted with a strategic role to develop a high technology-based industry in the areas of aerospace and composites – two industries which the Government has identified as the most crucial for the country’s future industrial growth.
Goodrich Corporation, a Fortune 500 company, is a global supplier of systems and services to aerospace, defence and homeland security markets.
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