DRB-HICOM to pay additional post-acquisition amount for Spirit AeroSystems' Malaysian ops

KUALA LUMPUR (April 7): DRB-HICOM Bhd (KL:DRBHCOM), which completed its acquisition of Spirit AeroSystems’ Malaysian operations four months ago, on Tuesday announced a further increase of US$600,563 (RM2.42 million) in the purchase price.
 
The group said its wholly-owned aerospace unit, Composites Technology Research Malaysia Sdn Bhd (CTRM), has agreed to the post-completion price adjustment with the sellers, raising the final purchase consideration to US$111.22 million (RM452.21 million) from US$110.62 million that was paid upon completion on Dec 8, 2025.

Several price revisions had earlier been made prior to the completion of the acquisition.

In an exchange filing, DRB-HICOM said the latest revision stems from a post-closing adjustment mechanism tied to actual balances of net working capital, cash and indebtedness at the point of completion. These figures are sometimes finalised after closing, replacing the earlier estimates used to determine the provisional purchase price.

The marginal increase may point to Spirit AeroSystems’ net working capital position being slightly stronger than initially estimated, the group noted.

The acquisition of Spirit AeroSystems’ Malaysian unit is part of DRB-HICOM’s broader strategy to strengthen its aerospace segment via CTRM, which is involved in composite aero-structure manufacturing and engineering services. It was first announced in August 2025, with DRB-HICOM valuing Spirit AeroSystems Malaysia at RM426.1 million.

Spirit Malaysia is a key supplier of components and assemblies for major Airbus and Boeing programmes, including the A220, A320, A321, A350, B737 and B787. Its Subang facility within the Malaysia International Aerospace Centre also serves as Spirit AeroSystems’ Southeast Asia hub.

CTRM, meanwhile, manufactures composite aerostructures such as wing components for the A320, A350 and A380, nacelles for the A350, and various components for the A400M, B737, B787, B767 and B777 aircraft.

Shares of DRB-HICOM closed flat at RM1.20 on Tuesday, valuing the group at RM2.32 billion. Over a year, the stock has been up by 87.5%.