TORONTO, Sept. 20, 2017
/CNW/ - Magellan Aerospace ("Magellan") announced today that it was
selected by Airbus to provide exhaust systems for the A320neo PW
family of aircraft. Magellan will design, develop and manufacture
exhaust systems for the A320neo PW1100G-JM nacelle with the first
unit scheduled to enter into service in 2022. Revenue generated
from this life-of-program contract is estimated to exceed CDN
$200 million over the first ten years
of the contract. The fabricated metallic exhaust systems will be
produced at Magellan's North American facilities in Winnipeg, Manitoba and Middletown, Ohio and will be delivered
directly to Airbus assembly lines across the globe.
Mr. Phillip Underwood, President
and CEO of Magellan said, "Magellan is excited to be part of
Airbus' initiative to develop a new nacelle for the PW
A320neo. Magellan was successful on the merits of our
technical expertise and our ability to manage the industrialization
of these complex assemblies," he continued. "This new project
aligns with Magellan's strategy to invest in advanced technologies
and manufacturing processes to support our customer's requirements,
providing cost effective products into the decades ahead."
Magellan has a long history working with Airbus, supplying
exhaust systems for both the A380 and A340 aircraft as well as a
wide range of precision machined structural components and
assemblies for the full range of Airbus aircraft including A320,
A330, and A350 Families.
About Magellan Aerospace
Magellan Aerospace is a global aerospace company that provides
complex assemblies and systems solutions to aircraft and engine
manufacturers, and defense and space agencies worldwide. Magellan
designs and manufactures aeroengine and aerostructure assemblies
and components for aerospace markets, advanced proprietary products
for military and space markets, and provides engine and component
repair and overhaul services worldwide. Magellan is a public
company whose shares trade on the Toronto Stock Exchange (TSX:
MAL), with operating units throughout North America, Europe, and India.
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
