KUALA LUMPUR, Aug. 11 -- DRB-Hicom Bhd has announced plans to acquire the Malaysian operations of aerospace manufacturer Spirit AeroSystems for approximately US$95.2 million (RM426.1 million).

The company said in a stock exchange filing today that the acquisition is expected to be completed by the end of the year.

Once finalised, Spirit AeroSystems Malaysia Sdn Bhd will be fully owned by Composites Technology Research Malaysia Sdn Bhd (CTRM), DRB-Hicom's wholly owned aerospace subsidiary, The Edge reported.

DRB-Hicom described the deal as a strategic move to strengthen CTRM's competitive position in the aerospace industry by expanding its aerostructure expertise.

Spirit Malaysia supplies major components and assemblies for Airbus and ...