TORONTO, May 14, 2019 /CNW/ - Magellan Aerospace
Corporation ("Magellan") announced today that it will continue
producing F-35 Lightning II ("F-35") horizontal tail assemblies
under an agreement with BAE Systems. The agreement is the
continuation of contract awards made to Magellan by BAE Systems and
with the additional quantities awarded, Magellan will more than
double its horizontal tails produced thus far for the
program.
Magellan, through its operations in Winnipeg, Manitoba, and BAE Systems have been
working together to produce horizontal tails for the global F-35
program for more than a decade, signing the original Letter of
Intent for this agreement in 2006. Both companies have since
made significant investment in facilities, technologies and
training to ensure the successful delivery of these flight-critical
assemblies to F-35 prime contractor Lockheed Martin.
The horizontal tail assemblies produced at Magellan will be used
on the Conventional Takeoff and Landing (CTOL) variant of the
F-35. Magellan is targeting to produce more than 1,000 ship
sets of horizontal tail assemblies over the life of the F-35
program.
"This contract represents additional quantities of horizontal
tails awarded to Magellan with annual deliveries ramping up to 60
per year within the three year period. This is approximately
half of the program requirement for the CTOL variant of the
aircraft," said Mr. Phillip
Underwood, Magellan's President and CEO. "Magellan has
steadily increased its annual deliveries since the first horizontal
tail delivery in 2012."
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 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
