TORONTO, Nov. 5, 2018 /CNW/ - Magellan Aerospace
Corporation ("Magellan") announced today, that they have secured a
six year agreement with Airbus for a contract extension for the
manufacture of A350 XWB centre wing box and keel beam detail parts.
It is estimated that revenue generated from this work package will
exceed CDN $140 million dollars over
the term of the contract. The package consists of a number of large
structural, machined components, and will be manufactured by
Magellan in the United Kingdom and
supplied to the Airbus assembly facility in Nantes, France.
Mr Haydn Martin, Magellan's Vice
President, New Business Development said, "This contract extension
has been achieved through a combination of demonstrated operational
excellence and market competitive pricing. As a strategic partner
to the Airbus Group, Magellan continues to align our technology
investments and manufacturing best practices to meet their current
and future requirements.
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