TORONTO, July 16, 2010 /PRNewswire/ -- Magellan Aerospace
commends the Government of Canada
for its decision to proceed with the Joint Strike Fighter (JSF)
program as the choice for Canada's
future fighter aircraft. This decision conveys the government's
commitment that the JSF F-35 aircraft is the right aircraft for
Canada to replace the CF18 fleet
toward the end of the decade. The Fifth Generation F- 35 will
deliver superior capability, critical interoperability with allies,
and significant economies of scale. It will allow Canada's aerospace industry to continue to
play a significant competitive role in the production of these
high-technology aircraft.
Magellan Aerospace also applauds the efforts of the government
to maximize opportunities for the more than 90 Canadian companies
across Canada that are already
participants in the JSF program. From the time that Canada officially joined the JSF international
partnership, participation in achieving the technical and
competitive demands of the JSF program development have been seen
as crucial stepping stones to securing greater roles in the current
production and upcoming support phases. The JSF program will
provide Canadian industry unprecedented participation in a
strategic, long-term development and production program to advance
existing strengths in aerospace and defence technologies. This
combination of commercial opportunity and long term technology
advancement from coast to coast across Canada will ensure valuable, high technology
jobs are established, sustained and grown in Canada's aerospace industry.
"The aerospace industry is an important sector in Canada," said James
Butyniec, President and CEO of Magellan Aerospace. "The
partnerships that have been established with the federal and
provincial governments in strategic technology development within
Canada have resulted in
outstanding industrial participation opportunities. Agreements and
cooperation with our international partners have led to
collaborative team work in development and production, playing an
important role in sustaining and growing employment and operational
excellence."
Magellan Aerospace and fellow Canadian companies have
systematically invested in technology and knowledge growth over the
past decade in support of the JSF program. In parallel,
facilitization to increase full scale production capacity and
methodology to meet state-of-the-art manufacturing approaches is
underway at multiple operating sites across Canada. "This application of new technologies
and precision manufacturing processes will transform Magellan
Aerospace and other Canadian companies, ensuring they remain
confident and competitive leaders in future military and commercial
applications," stated Mr. Butyniec.
About Magellan Aerospace Corporation:
Magellan Aerospace Corporation is one of the world's most
integrated aerospace industry suppliers. Magellan designs,
engineers, and manufactures aeroengine and aerostructure components
and assemblies 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, (including that program deliveries achieve current
program market estimates) 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: Don
Boitson, Vice President and General Manager, T:
+1-204-788-2832, E: don.boitson@magellan.aero; Bill Matthews, Vice President Marketing,
Magellan Aerospace Corporation, T: (+1)416-271-7470, E:
bill.matthews@magellan.aero