TORONTO, Oct. 16 /CNW/ - Magellan Aerospace released today its analysis
of the announced delay in The Boeing Company's B787 Dreamliner aircraft. "We
are confident that there will be no significant affect on Magellan's
production and deliveries from this brief delay," said Jim Butyniec, President
and COO of Magellan. "We expect to deliver seven units in 2007, 36 units in
2008 and 66 units in 2009 to meet Boeing's targets," he added.
During the Boeing conference call conducted October 10, 2007, Boeing
senior officials stated that the announced six-month delay applied to the
first flight and the first customer delivery only. Boeing went on to say that
they are continuing the originally planned production schedule, and will
deliver 109 aircraft by the end of 2009. Current firm orders stand at 710
aircraft. The supply base was assured that if it performed against the
originally contemplated supply chain objectives, it would be treated, in terms
of cash and revenue, as it normally would.
Magellan has received direction from its immediate customers for B787
components, assemblies and services, to continue delivery in accordance with
the original schedules to the original commercial terms.
Magellan Aerospace Corporation is one of the world's most integrated and
comprehensive aerospace industry suppliers. Magellan designs, engineers, and
manufactures aeroengine and aerostructure assemblies and components for
aerospace markets, advanced products for military and space markets, and
complementary 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 and the United Kingdom.
For further information:
For further information: W.A. (Bill) Matthews, Vice President Marketing,
Tel: (905) 677-1889 ext. 222, Fax: (905) 677-5658, E: