Magellan secures $34 million aerospace contract

TORONTO – Magellan Aerospace Corporation announced that it’s subsidiary, Magellan Aerospace (UK) Limited, has reached an agreement with GKN Aerospace, securing a work package containing structural components for the Airbus A320 and A330 aircraft.

The package contains a number of major aluminium and titanium structural components, and is expected to generate revenues in excess of £21 million ($Cdn 34 million) over the next five years. Deliveries are due to commence in January 2011. To support this program Magellan will make further investments in high-speed 5-axis machining technology.
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