TORONTO, March 15, 2019 /CNW/ - Magellan Aerospace
Corporation ("Magellan") announced today, agreements valued at CDN
$48 million, with the Canadian
government to perform the licensed manufacture of LUU-2
illumination flares for the Royal Canadian Air Force (RCAF).
Magellan-produced LUU-2 illumination flares will be delivered from
the Winnipeg facility's propellant
plant in Manitoba, Canada. The
term of the contracts is five years.
The LUU-2 is an air-deployed high-intensity illumination
flare. The RCAF utilizes the LUU-2 to support night time
search and rescue operations with illumination. The flares produce
about 1.8 million candlepower of visual illumination for five
minutes.
"Magellan remains committed to continuing our 60-year legacy in
supporting the Canadian Armed Forces and the RCAF with the delivery
of critical mission support equipment and services", said Mr.
Haydn Martin, Vice President,
Business Development, Marketing and Contracts, Magellan
Aerospace.
About Magellan Aerospace Corporation
Magellan Aerospace Corporation 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