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Magellan expects US $ 20M from Airbus contract
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Magellan expects US $ 20M from Airbus contract
Magellan Aerospace Corporation announced yesterday that an agreement has been reached between Airbus and Magellan Aerospace (UK) Limited securing a further work package, Crown Fittings, on Airbus' new A350 XWB.
February 7, 2011 By Carey Fredericks
Feb. 7, 2011, Toronto – Magellan Aerospace Corporation announced today
that an agreement has been reached between Airbus and Magellan
Aerospace (UK) Limited securing a further work package, Crown Fittings,
on Airbus' new A350 XWB.
It is expected to generate revenues in excess of $US 20 million over the next ten years.
The contract requires the machining and treatment of complex machined aluminium lithium detail components, and delivery to the final assembly line in Toulouse, France. The first deliveries of the contracted 800 shipsets will be made in April, 2011.
Jim Butyniec, Magellan's President and CEO, discussed the importance of participation on the A350 XWB program and Magellan's continued drive to secure major work packages on Airbus aircraft. He commented, "This package, together with Magellan's existing A350 XWB work on the Centre Wing Box and the Pylon Secondary Structure, augments Magellan's position on this exciting new program."
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 focussed on core competencies.
