Magellan secures huge contract extension with Airbus
July 10, 2012, Toronto - Magellan Aerospace announced today an agreement between Magellan Aerospace (UK) Limited and Airbus for a contract extension to deliver aluminum and titanium, structural wing components from Magellan UK divisions located in Wrexham and Bournemouth.
This contract is comprised of components for use on the A320, A330 and A380 aircraft programs and is projected to generate revenues in excess of £370 million through to December 2019.
The scope of work of this contract complements the new A350 work packages that Magellan has previously been awarded and are currently developing, thereby, securing the company as a supplier on every Airbus civil program. To maintain Magellan's competitive position and support this long-term commitment to Airbus, Magellan will invest up to£15M in capital equipment over the term of contract extension.
Mr. James S. Butyniec, President and CEO of Magellan Aerospace Corporation said, "This long-term contract with Airbus demonstrates our commitment to developing enduring relationships with our customers and investing the resources required to support their current and future requirements. Magellan has a culture committed to achieving operational excellence and we are very pleased that Airbus has confidence in our ability to provide globally competitive products for their family of commercial aircraft."
Business Secretary, Vince Gable said, "This multi million contract is great news for Magellan Aerospace, Airbus, and the UK aerospace industry suppliers. It's a further demonstration of the breadth of the UK's supply chain."