KUALA LUMPUR (June 23): UMW Holdings Bhd’s wholly-owned unit UMW Aerospace Sdn Bhd was awarded with the “Supplier Best Practice Award” at the recent Rolls-Royce Global Aerospace Supplier Conference 2022 in the UK.
“We believe this achievement will provide UMW Aerospace the impetus to participate in more aerospace projects for Rolls-Royce as well other OEMs (original equipment manufacturers) within the aerospace industry.
"We believe this achievement also demonstrates Malaysia’s potential to become a key hub for the aerospace industry,” said UMW president and group chief executive officer Datuk Ahmad Fuaad Mohd Kenali in a statement on Thursday (June 23).
UMW Aerospace is currently the only home-grown company to become a Tier 1 supplier to Rolls-Royce plc, with a 25-plus-five-year contract to manufacture fan cases for the latter.
In 2021, it was inducted into the 2021 Cohort of Rolls-Royce’s High Performing Supplier Group that makes up 5% of all Rolls-Royce suppliers, and was the only ASEAN company to be selected within the complex machining category.
The Supplier Best Practice Award recognises suppliers with exceptional qualities, including focus on continuous improvement in operations and cost optimisation as well as their commitment towards zero defects.
The criteria also include demonstrating proactive engagement and commitment to utilising the supplier engagement plan to thrust performance, driving rate readiness and robust planning, as well as adopting new technologies, the statement wrote.
Shares in UMW settled two sen or 0.65% lower at RM3.04 on Thursday, with a market capitalisation RM3.55 billion.