TORONTO, March 8, 2017
/CNW/ - Magellan Aerospace ("Magellan") announced an agreement
today between Magellan Aerospace (UK) Limited ("Magellan UK") and
Airbus for the supply of complete crown module assemblies for all
variants of the A350 XWB aircraft. This contract extension, valued
at approximately CDN $140 million,
will see the provision of complex assemblies from Magellan
facilities in the United Kingdom,
Poland and India to the Airbus assembly lines in
Germany and France.
Mr. Phillip Underwood, President
and CEO of Magellan said, "With an emphasis on investing in
innovative manufacturing technologies and developing a cost
competitive global supply chain, Magellan has worked diligently to
align with Airbus' production requirements for the A350 XWB." "To
support the great demand for this aircraft, Magellan will continue
to focus our efforts on optimizing our performance to provide
solutions for Airbus' manufacturing needs into the next
decade."
Magellan has a long history working with Airbus and in addition
to supplying crown modules for the A350 family of aircraft, also
supplies precision machined aluminium and titanium structural wing
components for use on the A320, A330, and A380 aircraft
programs. In addition Magellan supplies Wire Strike
Protection Systems™ for the majority of Airbus helicopter
models.
About Magellan Aerospace
Magellan Aerospace is a global, integrated aerospace company
that provides complex assemblies and systems solutions to aircraft
and engine manufacturers, and defense 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
facilities 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
