DRB-Hicom unit acquires Spirit Aerosystems Malaysia

KUALA LUMPUR: DRB-Hicom Bhd’s unit Composites Technology Research Malaysia Sdn Bhd has acquired Spirit Aerosystems Malaysia Sdn Bhd in a bid to enhance its aerostructures capabilities.

This followed shareholder approval on Nov 14, as well as clearance from the European Commission and the United States Federal Trade Commission, announced on Oct 14 and Dec 3, respectively.

DRB-Hicom said the acquisition will give Composites Technology a stronger platform to pursue continuous improvement, enhance operational discipline and drive long-term value creation.

“The acquisition provides a strategic opportunity to further elevate Composites Technology’s competitive position in the aerospace industry by strengthening its aerostructures expertise.

“This will contribute to improved scale, efficiency and growth, enabling the company to deepen its presence in key aerospace programmes and strengthen relationships with global original equipment manufacturers.

“It also expands its collaborations with Airbus on the A220, A320 and A350 programmes, and with Boeing on the 737 and 787 programmes,” the group said in a statement.