CTRM TO REAP AVIATION SECTOR BOOM
Firm in position to become billion-ringgit company within 2 years, says group COO
MELAKA said by 2035, there would be an estimated 33,070 plane orders valued at US$5.2 trillion (RM22.57 trillion), based on a study by Airbus.
He said orders for second-tier CTRM products from first-tier component makers like Spirit and UTC Aerospace Systems, both based in the United States, had thickened its order book to the tune of RM11.9 billion, and this would last up to 2035.
Airbus currently accounts for 70 per cent of CTRM’s business at present (via orders coming in from the first-tier Airbus suppliers, as well as a small portion of direct orders from Airbus itself).
Shamsuddin said at a briefing the company registered a revenue of RM855 million last year.
The briefing was held in conjunction with the announcement of the company winning the “Best Improver Award 2017” from Airbus at the Supply Chain & Quality Improvement programme in France last month,
He also told the media at CTRM’s plant in Batu Berendam, here, yesterday, that this year, the company, a unit of DRBHICOM Group of Companies, was spending RM93.4 million to construct a sixth building in Melaka, scheduled for completion in February next year.
CTRM plans to become an Airbus-certified Full Independent Lab in 14 months.
The news of it becoming a Full Independent Lab, said Shamsuddin, had already resulted in many enquiries from global aviation and aerospace industry players for the supply of parts.
The company’s total assets as at last year stood at RM842 million.
At the same event, Airbus issued a statement saying the value of work undertaken in Malaysia was set to increase by 25 per cent over the next five years, growing from US$400 million at present to US$500 million by 2021.
“The increase will come on the back of higher production rates for the aircraft types worked on by suppliers like CTRM, Spirit Aerospace and Celestica, and a growth in the footprint of local joint ventures, including maintenance, repair, and overhaul firm Sepang Aircraft Engineering,” said the European aircraft maker.