TORONTO, April 24, 2019 /CNW/ - Magellan Aerospace
Corporation ("Magellan") announced it has reached a multi-year
agreement with The Boeing Company ("Boeing") to manufacture 777X
control surface ribs in support of Boeing's Focused Factory
initiative.
In order to provide the best solution for Boeing on this
multi-year package, Magellan will provide internal dual source
capability for risk mitigation and business continuity. Work will
begin at its United Kingdom
facility and later transition to a new factory in Bangalore, India.
Boeing's Focused Factory initiative is the aggregation of
products grouped by commonality and forecasted demand. The product
groups utilize similar technologies and aggregating the products
creates economies of scale that deliver lower cost, improved
quality, and delivery efficiencies.
"This award reflects Magellan's commitment to continue to
provide value solutions to Boeing in meeting their market
challenges," said Haydn Martin, Vice
President, Business Development, Marketing and Contracts for
Magellan.
"Magellan will continue to innovate and optimize its performance
to meet the expectations of Boeing and our customer base," said
Martin.
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