Selected to Manufacture Additional Structural Components For The New Airplane

An agreement has been reached between Magellan Aerospace Corporation and Airbus securing a further work package for the company on Airbus' new A350 XWB. It is expected to generate revenues in excess of $20 million over the next ten years.

The contract requires the machining and treatment of complex machined aluminium lithium detail components called crown fittings, and delivery to the final assembly line in Toulouse, France. The first deliveries of the contracted 800 shipsets will be made in April, 2011.

"This package, together with Magellan's existing A350 XWB work on the Center Wing Box and the Pylon Secondary Structure, augments Magellan's position on this exciting new program," said Magellan President and CEO Jim Butyniec announcing the deal Monday. Production will take place at Magellan's facilities in the UK at Bournemouth, with new investment in machining capacity to be phased in as the production rate increases from 2012. These future investments demonstrate Magellan Corporation's commitment to developing world class manufacturing facilities focused on core competencies.

FMI: www.malaero.com