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Magellan Awarded CDN $140 Million Contract Extension with Airbus
Magellan Awarded CDN $140 Million Contract Extension with Airbus Canada NewsWire ...
About this update from Magellan Aerospace Corporation
[{"type":"text","content":"\n\n\n\nMagellan Awarded CDN $140 Million Contract Extension with Airbus\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nTORONTO, Nov. 5, 2018\n\n\n\nTORONTO, Nov. 5, 2018 /CNW/ - Magellan Aerospace Corporation (\"Magellan\") announced today, that they have secured a six year agreement with Airbus for a contract extension for the manufacture of A350 XWB centre wing box and keel beam detail parts. It is estimated that revenue generated from this work package will exceed CDN $140 million dollars over the term of the contract. The package consists of a number of large structural, machined components, and will be manufactured by Magellan in the United Kingdom and supplied to the Airbus assembly facility in Nantes, France.\nMr Haydn Martin, Magellan's Vice President, New Business Development said, \"This contract extension has been achieved through a combination of demonstrated operational excellence and market competitive pricing. As a strategic partner to the Airbus Group, Magellan continues to align our technology investments and manufacturing best practices to meet their current and future requirements.\nAbout Magellan Aerospace Corporation\nMagellan Aerospace Corporation is a global aerospace company that provides complex assemblies and systems solutions to aircraft and engine manufacturers, and defense and space agencies worldwide. Magellan designs and manufactures aeroengine and aerostructure assemblies and components for aerospace markets, advanced proprietary products for military and space markets, and provides engine and component repair and overhaul services worldwide. Magellan is a public company whose shares trade on the Toronto Stock Exchange (TSX: MAL), with operating units throughout North America, Europe, and India.\nForward Looking Statements\nSome of the statements in this press release may be forward-looking statements or statements of future expectations based on currently available information. When used herein, words such as \"expect\", \"anticipate\", \"estimate\", \"may\", \"will\", \"should\", \"intend\", \"believe\", and similar ...