Published: Friday October 9, 2009 MYT 2:16:00 PM
Updated: Friday October 9, 2009 MYT 3:02:42 PM

CTRM signs RM3.5b deal, to become world player

By MAZWIN NIK ANIS

mazwin@thestar.com.my

PUTRAJAYA: Government-linked company Composites Technology Research Malaysia Sdn Bhd (CTRM) has signed a major business deal worth RM3.5bil over 20 years which it said would boost its position as a world player in the airline component manufacturing industry.

The deal between CTRM and US-based Goodrich Corporation will establish the latter as a composites-manufacturing centre of excellence, providing nacelle components across multiple commercial airline programmes.

Prime Minister Datuk Seri Najib Tun Razak, who announced CTRM’s success in securing the contract, said the Malaysian company had managed to “seal the deal” based on its past performance, work quality and Goodrich’s confidence in its capabilities.

CTRM Chairman Datuk Wira Syed Ali Syed Abbas Alhabshee (second from left) explaining the product (Aero Structures – V2500 Engine Nacelle) that CTRM is supplying to Goodrich Coperation to Prime Minister Datuk Seri Najib Tun Razak at the Contract Announcement and Excellant Supplier Award Ceremony to CTRM from Goodrich at Perdana Putra in Putrajaya on Friday. Looking on is (from left) CTRM CEO Datuk Rosdi Mahmud and Goodrich Aerostructures, Director of Supply Chain Tim Martin. - Starpic by Rohaizat Md Darus

“Under these agreements, CTRM will expand its capabilities to include delivery of larger, more complex components and composite assemblies for long-term programmes, and further strategic co-operation between CTRM and the Goodrich Aerostructures business unit.

“The contracts signed are valued at RM450mil over the next five years. The period of the contracts is to last for the life of the aircraft and CTRM projects the contract value to be worth RM3.5bil,” he told reporters on Friday.

Najib said the Goodrich contract increases CTRM’s current book order of RM3bil to about RM6.5bil, adding that the book order was expected to increase to RM8.5bil by the end of the year through more new contracts from various customers.

CTRM was incorporated in 1990, with Ministry of Finance Incorporated as its principle shareholder, to develop a high technology-based industry in the areas of aerospace and composites.

Goodrich Corporation, a Fortune 500 company, is a global supplier of systems and services to the aerospace, defence and homeland security markets.