TORONTO, April 6, 2010 /PRNewswire/ -- Magellan Aerospace
Corporation announced today that an agreement has been reached
between GKN Aerospace - Filton and Magellan Aerospace (UK) Ltd,
securing a major work package on the Airbus A380 program.
The package contains 203 parts which are mostly machined
aluminium detail components. It is expected to generate revenues in
excess of US$19 million over the next
five years. Deliveries are due to commence in June 2010.
Phil Underwood, Vice President
and General Manager of Magellan UK, said: "This is an exciting
contract for the Company as it enhances our position as a global
supplier of aerospace components. This is good news for everyone
within Magellan UK."
Initial production will utilise existing capacity at Magellan's
facilities in the UK at Bournemouth and Chalfont St Peter
(Verdict), with further investment in high speed 5 axis machinery.
These future investments demonstrate Magellan Aerospace
Corporation's commitment to world class manufacturing facilities
focused on core competencies.
GKN Aerospace is the aerospace operation of GKN plc (LSE:GKN),
one of the world's largest engineering companies. With sales of
GBP1.4bn, the business is focused
around three major product areas - aerostructures, propulsion
systems and transparencies, plus a number of specialist product
areas. GKN Aerospace is a major supplier of complex composite
structures; offers one of the most comprehensive capabilities in
high performance metallics processing and is the world-leading
supplier of cockpit transparencies and passenger cabin windows.
Magellan Aerospace (UK) Limited is a wholly owned subsidiary of
Magellan Aerospace Corporation. Magellan Aerospace Corporation is
one of the world's most integrated and comprehensive 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), 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.
For further information: W.A. (Bill)
Matthews, Vice President Marketing, Magellan Aerospace
Corporation, T: +1(905)677-1889 Ext 222, E:
bill.matthews@magellan.aero