BANGALORE, India, Nov. 15, 2017 /CNW/ - Magellan Aerospace
("Magellan") hosted a traditional groundbreaking ceremony today for
the company's new manufacturing and assembly facility in
India. Magellan was honoured to have Canada's federal minister of International
Trade, The Honourable François-Philippe
Champagne participate in the event that was also attended by
an esteemed group of customers, government officials and local
business colleagues. The new 140,000 square foot building
will be constructed on seven acres in Hitech Defence and Aerospace
Park (Aerospace SEZ Sector) in Devanahalli, Bengaluru, near the
Bangalore International
Airport.
Already an established presence in India's aerospace sector for more than a
decade, Magellan will invest more than CDN $28 million in this state-of-the-art
manufacturing and assembly plant. Construction of the plant
will be in two phases with the first phase planned to become
operational near the end of 2018. The plant will employ
approximately 120 high technology and support positions, and will
be equipped with a comprehensive range of high speed 4 and 5-axis
machining centres, selected to optimise manufacturing
efficiency.
"Canada's world-class aerospace
sector is an international success story that symbolizes excellence
and provides more jobs for the middle class for both Canada and India. We are proud of
Magellan's long-standing presence in the Indian market and today's
expansion illustrates how Canadian companies have always been at
the forefront of aerospace innovation. Continued commercial
engagement in this region is at the core of our progressive trade
agenda which helps contribute to stronger and more innovative
economies for both Canada and
India."
- The Honourable François-Philippe
Champagne, Minister of International Trade Canada
Mr. Haydn Martin, Vice President,
New Business Development of Magellan Aerospace said, "Magellan is
excited to officially launch this important new venture in
India. Together, with our two longstanding Joint
Venture relationships in India;
API Surface Treatments and Triveni Aeronautics PVT Limited,
Magellan is positioned to be one of the largest suppliers of 'Make
in India' manufactured commercial
aircraft components. This new facility, coupled with
Magellan's extensive machining operations in Europe and North
America, will give us a highly competitive offering for our
customers."
This facility supports Magellan's major North American and
European OEM customers' drive to grow the 'Make in India' content on their aircraft and
demonstrates Magellan's on-going commitment to play a major role in
developing the supply chain in India.
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 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
