TORONTO, March 8, 2017 /CNW/ - Magellan Aerospace ("Magellan") announced an agreement today between Magellan Aerospace (UK) Limited ("Magellan UK") and Airbus for the supply of complete crown module assemblies for all variants of the A350 XWB aircraft. This contract extension, valued at approximately CDN $140 million, will see the provision of complex assemblies from Magellan facilities in the United Kingdom, Poland and India to the Airbus assembly lines in Germany and France.
Mr. Phillip Underwood, President and CEO of Magellan said, "With an emphasis on investing in innovative manufacturing technologies and developing a cost competitive global supply chain, Magellan has worked diligently to align with Airbus' production requirements for the A350 XWB." "To support the great demand for this aircraft, Magellan will continue to focus our efforts on optimizing our performance to provide solutions for Airbus' manufacturing needs into the next decade."
Magellan has a long history working with Airbus and in addition to supplying crown modules for the A350 family of aircraft, also supplies precision machined aluminium and titanium structural wing components for use on the A320, A330, and A380 aircraft programs. In addition Magellan supplies Wire Strike Protection Systems™ for the majority of Airbus helicopter models.
About Magellan Aerospace
Magellan Aerospace is a global, integrated aerospace company that provides complex assemblies and systems solutions to aircraft and engine manufacturers, and defense and space agencies worldwide. Magellan designs, engineers, and manufactures aeroengine and aerostructure assemblies and components for aerospace markets, advanced products for military and space markets, industrial power generation, and specialty products. Magellan is a public company whose shares trade on the Toronto Stock Exchange (TSX: MAL), with facilities throughout Canada, the United States, the United Kingdom, India and Poland.
Forward Looking Statements
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SOURCE Magellan Aerospace Corporation
For further information: Mr. Daniel Zanatta, Vice President, Business Development, Marketing and Contracts, Magellan Aerospace, Ph. +1 905 677 1889 x300; Mr. Haydn Martin, Vice President, New Business Development, Magellan Aerospace, Ph. +1 44 (0)1 202 512405