Magellan Aerospace Corporation (TSX: MAL) has announced an agreement reached between Airbus and Magellan Aerospace (UK) Ltd. The agreement was for securing a work package on Airbus' A350 XWB twin aisle commercial aircraft. In the package is a number of large, complex machined aluminum lithium components for the aircraft centre wing box, including Rib 1 and a range of attachment fittings and flange Ribs.
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Initial production will begin at Magellan's facilities in the UK. The agreement will cover the delivery for the first 400 units to Airbus. The pricing on the agreement is not yet finalized.
About Magellan Aerospace:
Magellan Aerospace (UK) Limited is a wholly owned subsidiary of 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 assemblies and components 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.
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