Spirit enters definitive agreement with CTRM for Malaysia facility, businesses

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In early August, Spirit AeroSystems (Wichita, Kan., U.S.) announced a purchase agreement to sell its facility and businesses in Subang, Malaysia, to Composites Technology Research Malaysia Sdn Bhd (CTRM, Malaysia) for $95,200,000, subject to customary adjustments. This transaction was entered into following the previously announced merger agreement with Boeing and subsequent definitive agreement with Airbus. The transaction is expected to close in Q4 2025, subject to regulatory approvals and closing conditions being met. 

Spirit AeroSystems’ business in Subang is a world-class engineering and manufacturing business, which occupies 45 acres with 400,000 square-feet manufacturing footprint in Subang’s Malaysian International Aerospace Centre and employs more than 1,000 employees. The operation offers aerostructures assembly, services capabilities and an integrated supply chain with access to advantaged, in-region material sourcing, skilled labor and scalability. 

As a result of this transaction, CTRM will become an important supplier to Airbus for its A220, A320 and A350 programs, and to Boeing on the 737 and 787 programs. 

“Our agreement with CTRM for the acquisition of this manufacturing facility ensures a strong future for this business as well as the regional stakeholders in Malaysia,” says Irene Esteves, Spirit AeroSystems executive vice president and chief financial officer. “This also marks a milestone in the ongoing acquisition of Spirit by Boeing.”