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BUSINESS

GKN Aerospace invests RM160 mln to set up repair facility in Johor

22/09/2022 06:09 PM

ISKANDAR PUTERI, Sept 22 (Bernama) -- GKN Aerospace, a global tier-one aerospace supplier, has invested about RM160 million (US$35 million) to set up an aero-engine parts repair facility at Nusajaya Tech Park in Johor.

GKN Aerospace Engines Systems president Joakim Andersson said the facility, which is a fully owned GKN Aerospace business, is an expansion to Asia that served as an important part of the company’s long-term growth strategy and global operating model. 

“The facility is complementary to GKN Aerospace’s existing component repair facility in El Cajon, California, to meet growing demand in the Asia Pacific region.

“The current team of 90 employees will grow to 150 operators in 2023 and further expand to 300 within five years as GKN Aerospace is providing on-site training for employees,” he told a press conference here today.

The media briefing was in conjunction with the grand opening of the facility which was officiated by Deputy International Trade and Industry Minister Datuk Lim Ban Hong.

Also present was Johor Investment, Trade and Consumer Affairs Committee chairman Lee Ting Han.

Andersson said Johor offered favourable conditions in the areas of business development, labour, education and training and infrastructure and an excellent location relative to the company’s major customers in the Asian Pacific region.

GKN Aerospace now operates seven facilities in Asia, delivering aerostructures, engine systems, wiring systems and transparencies in China, India, Malaysia and Turkey. 

“By the time all sites are fully up-and-running, around 15 per cent of GKN Aerospace’s employees are expected to be based in Asia,” he said.

Currently, the company employed 15,000 employees in 12 different countries.

Meanwhile, the Ministry of International Trade and Industry, in a separate statement, said the government would continue to facilitate the growth of the aerospace industry in compliance with environmental, social and governance (ESG). 

It said the National Investment Aspirations (NIAs) encourage advanced technology and high-value investments which are ESG compliant and are essential to revitalising Malaysia’s investment climate to attract high-quality investments and create high-income jobs.

“The investment of GKN Aerospace to establish its aero-engine components repair facility is an example of high-value aerospace investment promoted under the NIA. 

“Such investments will accelerate the production volume of more complex aerospace products, advanced services and research and development activities that will increase Malaysia’s aerospace productivity, export output and economic diversity,” it added.

Between 2015 to 2021, MITI said a total of RM10.2 billion worth of investments were secured, offering 5,805 high-skilled job opportunities, which contributed to the gradual increase in aerospace revenue and export.

“The industry generated annual revenue of RM12.2 billion in 2021, supported by 26,000 technical workforces. The export of aerospace parts and components grew 11 per cent to RM5.79 billion compared to 2020. 

“Based on positive developments within the industry, it is anticipated that the Malaysian aerospace industry will reach its pre-pandemic levels by year-end,” the ministry added.

-- BERNAMA

 


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