Business
Magellan Aerospace to Manufacture Airbus A320 Complex Structural Wing Ribs
TORONTO , Jan. 22, 2014 /CNW/ - Magellan Aerospace announced today that an agreement had...
About this update from Magellan Aerospace Corporation
[{"type":"text","content":"\n\n\nTORONTO, Jan. 22, 2014 /CNW/ - Magellan Aerospace announced today that\n an agreement had been reached between Airbus S.A.S. and Magellan\n Aerospace securing a significant work package to manufacture and supply\n complex, 5-axis machined wing ribs for Airbus' single aisle A320\n product family including the A320neo.  This additional work package\n complements the existing A320 wing ribs manufactured by Magellan\n Aerospace.\n\n\nThe work package is expected to generate revenues of approximately $US\n 20 million over the next five years.  Magellan will invest in a new\n high-speed, 5-axis machining centre to be located in its facility in\n Greyabbey, Northern Ireland, enhancing the capabilities of the existing\n machining facilities.  This investment demonstrates Magellan's\n commitment to providing world class manufacturing facilities to support\n its customer programmes.\n\n\nMr Jim Butyniec, President and Chief Executive Officer of Magellan\n stated that securing this package continues Magellan's drive to focus\n on core products at all our facilities.  He said, \"This new package,\n together with Magellan's existing wing rib packages, secures our\n position as a major supplier on the A320 programme\".\n\n\nAbout Magellan Aerospace: \n\n\nMagellan Aerospace is a global, integrated aerospace company that\n 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 Statements:\n\n\nThis press release contains information and statements of a forward\n looking nature, including in relation to the approximate value of the\n agreement over the next five years and timing of expected deliveries\n and consequential increases in investment in machining capacity. \n Information is based on a number of assumptions, including the demand\n for the Airbus A320 aircraft and its production rates, an...