TORONTO, April 19, 2018 /CNW/ - Magellan Aerospace
("Magellan") announced today, that they have secured a 5-year
agreement with Airbus to supply wing ribs for the A330
aircraft. Magellan will manufacture ribs 2 through 5, the
largest ribs in the skeletal structure of the aircraft wing.
Revenue generated from production of these wing ribs is estimated
to be more than CDN $48 million
dollars over the term of the contract. These ribs will be
produced by Magellan in the United
Kingdom for the Airbus wing assembly facility.
Mr. Phillip Underwood, Magellan's
President and CEO said, "This new rib manufacture package
complements Magellan's existing spar and rib manufacturing for the
A320 and A350 programs, and demonstrates Airbus' confidence in
Magellan's advanced manufacturing processes."
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
