Magellan Aerospace Selected to Machine and Assemble Structural Components for the Airbus A350 XWB Program

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[{"type":"text","content":"\n\n\nTORONTO, Nov. 8, 2013 /CNW/ - Magellan Aerospace Corporation announced\n today that an agreement had been reached between Airbus S.A.S. and\n Magellan Aerospace securing a major work package on the Airbus A350\n XWB.  The package, which is an addition to other supply contracts\n Magellan Aerospace has on the A350XWB, consists of a series of machined\n and assembled structural components for the fuselage structure in this\n aircraft which supports the cabin storage bins and aircraft systems and\n is worth approximately $US 45 million dollars over the next 4 years.\n\n\nProduction will utilize existing and new capacity at Magellan's\n facilities in the UK in Wrexham, Chalfont and Greyabbey.  To support\n this program Magellan will invest in a range of new high technology\n machines to optimise efficiency and value to the customer. These\n investments demonstrate Magellan's commitment to developing world class\n manufacturing facilities focused on core competencies.\n\n\nMr.  Jim Butyniec, President and Chief Executive Officer of Magellan\n discussed the strategic importance of participation on the A350 XWB\n program and Magellan's continued drive to secure major work packages on\n future aircraft for Airbus and Boeing programs.  He commented, \"This\n new package, together with existing A350 XWB work consolidates\n Magellan's strong position on this exciting new Airbus program\"\n\n\nAbout Magellan Aerospace: \n\n\nMagellan Aerospace Corporation is a global, integrated aerospace company\n that provides complex assemblies and systems solutions to aircraft and\n engine manufacturers, and defence and space agencies worldwide.\n Magellan designs, engineers, and manufactures aeroengine and\n aerostructure assemblies and components for aerospace markets, advanced\n products for military and space markets, industrial power generation,\n and specialty products. Magellan is a public company whose shares trade\n on the Toronto Stock Exchange (TSX: MAL), with operating units\n throughout Canada, the United States, the United Kingdom, India, and\n Poland.\n\n\nForward Looking Statement:\n\n\nThis press release contains information and statements of a forward\n looking nature, including in relation to the estimated future revenues\n from an agreement over the next 4 years and timing of expected\n deliveries and conseq...

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