PETALING JAYA: The Boustead Holdings Bhd group yesterday clinched some RM162 million contracts as well as marketing agreements during the Langkawi International Maritime and Aerospace Exhibition (LIMA).
Its 51% subsidiary Atlas Hall Sdn Bhd secured an exclusive two-year agency agreement with W Giertsen Hallsystem AS (Giertsen) of Norway to market and sells its products in Malaysia. The products covered under the agreement are rub halls, aircraft hangars, and future products to be developed by Giertsen.
Another subsidiary, Boustead Naval Shipyard Sdn Bhd, had secured a RM62 million contract from the Malaysian government for the supply and delivery of spares, maintenance, integrated logistic support and training for the 17th patrol vessel squadron of the Royal Malaysian Navy.
Meanwhile, Boustead Heavy Industries Corp Bhd (BHIC), a listed subsidiary of the Boustead group, had entered into an agreement with Rhienmetall Defence Electronics GmbH for the manufacture and supply of cargo loading system assemblies for Airbus A400M, A380, A330 aircraft.
The agreement includes a comprehensive technology transfer programme and investment in facilities for aerospace electronics manufacturing, according to a statement by BHIC.
The value of the initial two phases of the project is likely to exceed RM100 million and, if all options are exercised, the value of the subsequent phases is likely to exceed RM500 million over 10 years.
In the first phase of the project, Contraves Advanced Devices Sdn Bhd, a unit of BHIC, will establish a dedicated facility in Malaysia for the manufacture of aerospace electronics to ISO 9100 standards, and will undertake a vendor development programme with local SMEs for the manufacture of housing and mechanical components. The second phase will deliver 180 production shipments for confirmed European customers with associated spares, it stated.
“Subsequent phases are planned for expected new A400M aircraft orders, to expand the scope to include the manufacturing of Airbus A330 and A380 aircraft electronics sub-assemblies, and to establish a regionally oriented MRO (maintenance, repair and overhaul) capability for aircraft cargo loading systems,” BHIC stated.
This article appeared in The Edge Financial Daily, December 9, 2011.
Its 51% subsidiary Atlas Hall Sdn Bhd secured an exclusive two-year agency agreement with W Giertsen Hallsystem AS (Giertsen) of Norway to market and sells its products in Malaysia. The products covered under the agreement are rub halls, aircraft hangars, and future products to be developed by Giertsen.
Another subsidiary, Boustead Naval Shipyard Sdn Bhd, had secured a RM62 million contract from the Malaysian government for the supply and delivery of spares, maintenance, integrated logistic support and training for the 17th patrol vessel squadron of the Royal Malaysian Navy.
Meanwhile, Boustead Heavy Industries Corp Bhd (BHIC), a listed subsidiary of the Boustead group, had entered into an agreement with Rhienmetall Defence Electronics GmbH for the manufacture and supply of cargo loading system assemblies for Airbus A400M, A380, A330 aircraft.
The agreement includes a comprehensive technology transfer programme and investment in facilities for aerospace electronics manufacturing, according to a statement by BHIC.
The value of the initial two phases of the project is likely to exceed RM100 million and, if all options are exercised, the value of the subsequent phases is likely to exceed RM500 million over 10 years.
In the first phase of the project, Contraves Advanced Devices Sdn Bhd, a unit of BHIC, will establish a dedicated facility in Malaysia for the manufacture of aerospace electronics to ISO 9100 standards, and will undertake a vendor development programme with local SMEs for the manufacture of housing and mechanical components. The second phase will deliver 180 production shipments for confirmed European customers with associated spares, it stated.
“Subsequent phases are planned for expected new A400M aircraft orders, to expand the scope to include the manufacturing of Airbus A330 and A380 aircraft electronics sub-assemblies, and to establish a regionally oriented MRO (maintenance, repair and overhaul) capability for aircraft cargo loading systems,” BHIC stated.
This article appeared in The Edge Financial Daily, December 9, 2011.
