PARIS AIR SHOW, Le Bourget, June 17, 2013 /CNW/ - Magellan Aerospace has
signed a Memorandum of Agreement (MOA) with BAE Systems for work on the
F-35 Lightning II program. Under the agreement Magellan will produce
more than 1,000 sets of horizontal tails for the Conventional Take Off
and Landing (CTOL) variant of the F-35 program over a 20-year period.
The agreement, announced today at the Paris Air Show, Le Bourget,
formalizes the continuation of the strategic relationship between BAE
Systems and Magellan.
Magellan will produce F-35A horizontal tail assemblies using components
that require advanced composite manufacturing, machining capabilities,
and strict quality standards. The majority of the components used for
the assembly are produced in Magellan's divisions. The horizontal
tail production under the MOA has a potential value of over Cdn. $1.2
billion over the life of the program. Magellan has achieved sales of
more than $100M Cdn. on the F-35 program to date.
Today's signing represents another milestone of Magellan's strategic
involvement on the F-35 program. "We have supported Magellan's journey
to become a key supplier of complex, flight critical components
requiring high-technology, and high-quality manufacturing capabilities
to produce the components to the exacting specifications demanded of
this global program," said Paul Burns, Global Procurement & Supply
Chain Director, BAE Systems.
Magellan is a part of the global F-35 team that includes world-class
aerospace companies representing all eight JSF partner nations.
Magellan's potential value of F-35 manufacturing work is approaching
Cdn. $2.0 billion.
"At Magellan, we are proud to be an integral part of the F-35 supply
chain. We've produced parts that are flying on all three variants, and
for planes that will fly in four of the partnering nation's air
forces," said Jim Butyniec, President and CEO of Magellan Aerospace.
"We look forward to seeing the first Magellan-built horizontal tail
assembly fly on a production F-35 in early 2014."
About Magellan Aerospace:
Magellan Aerospace is a global, integrated aerospace company that
provides complex assemblies and systems solutions to aircraft and
engine manufacturers, and defence 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 operating units
throughout Canada, the United States, the United Kingdom, India, and
BAE Systems Involvement in the F-35 Programme:
BAE Systems brings military aircraft expertise that is key to the
development and manufacture of the F-35 Lightning II. Along with being
responsible for the design and delivery of the aft fuselage and
empennage for each of the three F-35 variants, BAE Systems also plays a
key role in other areas including vehicle and mission systems, life
support system and prognostics health management integration. The
Company also has significant work share in autonomic logistics and has
a role in the Integrated Test Force in America including two BAE
Systems pilots flight testing the F-35 as part of Team JSF.
SOURCE: Magellan Aerospace Corporation
For further information:
Mr. Daniel Zanatta
Vice President, Business Development and Contracts
Ph. +1 646 708 1234
Mr. John Dekker
Chief Financial Officer and Corporate Secretary
Ph. +1 905 677 1889 x224