TORONTO–(BUSINESS WIRE)–Magellan Aerospace Corporation (“Magellan”) announced an agreement with an undisclosed customer for the supply of complex machined rotating engine components for military aircraft platforms. The contract, valued at approximately $46.4 million, will be carried out at Magellan’s facility in Mississauga, Ontario over a five year period commencing in 2020.
Magellan continues to make significant investments in its facilities, manufacturing technology and personnel in order to meet production and delivery schedules and remain competitive in today’s global market. In securing this agreement, Magellan has demonstrated the ability to meet the demands of cost, quality and performance expected by customers in the aerospace sector.
Haydn Martin, Vice President, Business Development, Marketing and Contracts for Magellan said, “This new business speaks to the confidence that OEM customers have placed in Magellan and our ability to offer our customers technologically advanced and reliable manufacturing solutions.”
About Magellan Aerospace Corporation
Magellan 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.
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