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Deftechbuys CTRM from MOF

Published: 2013/02/20

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KUALA LUMPUR: DRB-HICOM Bhd is expanding into aircraft composite components design and manufacturing via the acquisition of Composites Technology Research Malaysia Sdn Bhd (CTRM).

DRB-HICOM, through DRB-HICOM Defence Technologies Sdn Bhd (Deftech), is paying RM298.3 million for a 96.87 per cent stake in CTRM from the Minister of Finance Inc (MOF).

The group said in a filing to Bursa Malaysia yesterday Deftech will sign a definitive sale and purchase agreement (SPA) with MOF upon satisfactory outcome of the due diligence on CTRM.

CTRM develops and produces aircraft composites parts, notably for Boeing, from its facilities in Batu Berendam, Malacca.

It also designs, develops and manufactures composite parts for aerospace and non-aerospace applications including those for the defence and automotive industries.

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