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Magellan Aerospace Corporation announces winglet contract for Boeing 767 retrofit program

May 23, Toronto /CNW/ Magellan Aerospace Corporation announced Thursday a contract awarded by GKN Aerospace to its Magellan Aerospace (UK) Limited ("Magellan UK") operating division. The contract is to supply metal components for retrofit winglets on the Boeing 767, supporting GKN Aerospace's design and development contract for these winglets with Aviation Partners Boeing (APB).

The contract calls for up to 450 aircraft sets over the performance period of
three to four years. Although the winglets are primarily composite structures,
each one will incorporate 25 Magellan-manufactured metal components, such as wing ribs and brackets.

Winglets are increasingly being used to improve the performance of civil
and business aircraft. They increase fuel efficiency by smoothing the airflow
over the outer wing. This in turn reduces the environmental impact and extends the useful service life of the aircraft. Winglets can be offered for new-build aircraft, or as an aftermarket upgrade.

Phil Underwood, Vice President and General Manager of Magellan UK, said:
"This is an exciting contract for the company as it represents a major step
forward in diversifying our customer base, and positions us as a global
supplier of aerospace components. This is good news for everyone within
Magellan UK." The value of the contract is expected to be up to $13.5 million.