TORONTO, Feb. 3, 2017 /CNW/ - Magellan Aerospace
("Magellan") announced today a contract award from Public Services
and Procurement Canada ("PSPC") for engine repair and overhaul
("R&O") and fleet management services on the F404 engine that
powers Canada's fleet of CF-188
Hornet aircraft. The contract commenced in January 2017 and work will be carried out until
the terms expire at the end of March 2021. A preliminary
funding amount of CDN$45M has been
approved to launch the multi-year agreement. The contract
includes options to extend the duration of the agreement beyond
2021, based on performance. Magellan will service the F404
engines at its facility in Mississauga,
Ontario and at Royal Canadian Air Force ("RCAF") bases
located in Bagotville, Quebec and
Cold Lake, Alberta.
Under the terms of the contract, Magellan will provide R&O
services, engineering and field support services, technical and
publication management services, and supply chain management
services for the F404-GE-400 engines and CF-18A/B secondary power
systems.
"Magellan Aerospace is an approved source for F404 and J85
engine repair and has been the RCAF's choice for F404 engine
R&O service for 35 years. We are pleased to continue this
relationship with Canada's air
force, which demonstrates confidence in Magellan's world class
technical experience and value in terms of competitive pricing,"
said Mr. Phil Underwood, President
and Chief Executive Officer of Magellan Aerospace.
In addition to supporting Canada's CF-188 F404 fleet, Magellan is a
proven supplier and Centre of Excellence, in the worldwide F404
engine R&O support market. There are approximately 4,000
F404 engines currently in service in 15 countries around the
world.
About Magellan Aerospace
Magellan Aerospace is a global aerospace company that provides
complex assemblies and systems solutions to aircraft and engine
manufacturers, and defence and space agencies worldwide. Magellan
designs, engineers, and manufactures aeroengine and aerostructure
assemblies and components for aerospace markets, advanced products
for military and space markets, industrial power generation, and
specialty products. Magellan is a public company whose shares trade
on the Toronto Stock Exchange (TSX: MAL), with operating units
throughout Canada, the United States, the United Kingdom, India, and Poland.
Forward Looking Statements
Some of the statements in this press release may be
forward-looking statements or statements of future expectations
based on currently available information. When used herein, words
such as "expect", "anticipate", "estimate", "may", "will",
"should", "intend", "believe", and similar expressions, are
intended to identify forward-looking statements. Forward-looking
statements are based on estimates and assumptions made by the
Corporation in light of its experience and its perception of
historical trends, current conditions and expected future
developments, as well as other factors that the Corporation
believes are appropriate in the circumstances. Many factors could
cause the Corporation's actual results, performance or achievements
to differ materially from those expressed or implied by the
forward-looking statements, including those described in the "Risk
Factors" section of the Corporation's Annual Information Form
(copies of which filings may be obtained at www.sedar.com). These
factors should be considered carefully, and readers should not
place undue reliance on the Corporation's forward-looking
statements. The Corporation has no intention and undertakes no
obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise,
except as required by law.
SOURCE Magellan Aerospace Corporation
