TORONTO, April 29, 2019 /CNW/ - Magellan Aerospace
Corporation ("Magellan") announced agreements today with an
undisclosed customer for the supply of complex fabricated engine
front frames for a commercial platform, to be manufactured at
Magellan's facility in Winnipeg,
Manitoba, Canada, and critical rotating engine shafts for
a dual use platform, to be manufactured at Magellan's
facility in Haverhill,
Massachusetts, USA. These contracts are valued at
approximately CDN $45 million and
will be delivered starting in 2019 through 2022.
Magellan has made significant investments in manufacturing
technology and personnel at its facilities enhancing our ability to
compete in a global market. In securing these agreements,
Magellan has demonstrated the ability to meet the competitive
demands of cost, quality and performance expected by the aerospace
markets.
Haydn Martin, Vice President,
Business Development, Marketing and Contracts for Magellan said,
"This competitively won business speaks to the reputation that
Magellan has built in the aerospace industry. The confidence that
OEM customers have placed in Magellan is significant and
demonstrates our capability to offer our customers a
technologically advanced and reliable solution."
About Magellan Aerospace Corporation
Magellan Aerospace Corporation 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
