TORONTO, June 11 /CNW/ - The Paris Air Show is regarded as the premier aviation and aerospace event in the industry and will be open for business from June 15-21, 2009. Magellan Aerospace Corporation's President and Chief Executive Officer, Mr. Jim Butyniec will be leading a Magellan delegation from the Corporation at the show.
"We look forward to a highly productive week of meeting with our existing customers and our supply base, and to the opportunity to establish new business and political relationships" said Mr. Butyniec. "In addition, the Paris Air Show is an excellent venue to release Magellan's latest industry news."
In recent news Magellan has announced: - the formation of a 50:50 joint ownership company with QuEST Machining & Manufacturing to launch the first independent processing facility in India to cater to the needs of the aerospace manufacturing industry; - the award of the RADARSAT Constellation Mission (RCM) satellite bus development contract with MacDonald Dettwiler and Associates Ltd. (MDA) of Vancouver; - the investment of up to $120M Cdn. in its Winnipeg plant to facilitate work on the Joint Strike Fighter (JSF) program; and - major contract awards and deliveries with Airbus, GE Roll-Royce Fighter Engine Team, Lockheed Martin, and Boeing.
Magellan expects that during the course of the Paris Air Show, additional industry news relating to Magellan will become available, and will be publicly released at that time.
About Magellan Aerospace:
Magellan Aerospace is one of the world's most integrated 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.TO), with operating units throughout Canada, the United States, the United Kingdom and India.
Forward Looking Statements:
This press release contains information and statements of a forward-looking nature and is based on assumptions and uncertainties as well as on management's reasonable evaluation of future events. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to predict, and/or are beyond the Corporation's control. A number of important factors could cause actual outcomes and results to differ materially from those expressed in these forward-looking statements.