TORONTO, Aug. 13, 2018
/CNW/ - Magellan Aerospace ("Magellan") announced today the
signing of a six year agreement with Pratt & Whitney to
manufacture aluminum castings for their Next Generation Product
Family ("NGPF") of engines, powering the Airbus A320neo, Airbus
A220 (formerly known as Bombardier C-Series), Embraer E2 series and
Mitsubishi MRJ aircraft. The castings will be produced at
Magellan's facilities in Haley, Ontario,
Canada and Glendale,
Arizona, USA. The agreement is expected to generate
approximately CDN $81 million in
revenue for Magellan through 2023.
Mr. Haydn Martin, Magellan's Vice
President, Business Development, Marketing and Contracts said,
"This new agreement will provide Pratt & Whitney with enhanced
security of supply with Magellan internally dual sourcing these
castings between two manufacturing facilities in Canada and the USA, significantly de-risking the supply
chain. Magellan will utilize the latest in advanced sand casting
technologies, specifically 3D sand printing and automated pouring
to produce these components." Magellan is a world leader in the
development and industrialization of advanced technologies in the
aerospace sand casting industry.
"Pratt & Whitney looks forward to continued growth with
Magellan Aerospace in signing this agreement," said Brandon Barrett, strategic sourcing manager at
Pratt & Whitney. "Magellan is investing in the right
technologies at both of its facilities to provide the complex
castings for Pratt & Whitney's NGPF engines."
About Magellan Aerospace
Magellan Aerospace is a global aerospace company that provides
complex assemblies and systems solutions to aircraft and engine
manufacturers, and defense and space agencies worldwide. Magellan
designs and manufactures aeroengine and aerostructure assemblies
and components for aerospace markets, advanced proprietary products
for military and space markets, and provides engine and component
repair and overhaul services worldwide. Magellan is a public
company whose shares trade on the Toronto Stock Exchange (TSX:
MAL), with operating units throughout North America, Europe, and India.
Forward Looking Statements
Some of the statements in this press release may be
forward-looking statements or statements of future expectations
based on currently available information. When used herein, words
such as "expect", "anticipate", "estimate", "may", "will",
"should", "intend", "believe", and similar expressions, are
intended to identify forward-looking statements. Forward-looking
statements are based on estimates and assumptions made by the
Corporation in light of its experience and its perception of
historical trends, current conditions and expected future
developments, as well as other factors that the Corporation
believes are appropriate in the circumstances. Many factors could
cause the Corporation's actual results, performance or achievements
to differ materially from those expressed or implied by the
forward-looking statements, including those described in the "Risk
Factors" section of the Corporation's Annual Information Form
(copies of which filings may be obtained at www.sedar.com). These
factors should be considered carefully, and readers should not
place undue reliance on the Corporation's forward-looking
statements. The Corporation has no intention and undertakes no
obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise,
except as required by law.
SOURCE Magellan Aerospace Corporation