Magellan Aerospace Corp (MAL) New Listing Message Board

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Gold/Mining/Energy : Magellan Aerospace Corp (MAL) New Listing

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To: Dennis Lefebvre who wrote (396)	5/15/1998 12:06:00 PM
From: Anthony Wong	Read Replies (1) of 633

Magellan eyes European beachhead Friday, May 15, 1998 By PETER FITZPATRICK The Financial Post TORONTO -- Magellan Aerospace Corp. is looking outside North America for an acquisition, said chairman and chief executive Murray Edwards. After the company's annual meeting yesterday, Edwards said that Europe is a prime candidate because the aerospace engine and components maker wants to begin selling to Airbus Industrie. Magellan's active acquisition program drove sales to $256.3 million in 1997 from $75 million in 1994. Edwards wouldn't say when there might be a purchase, but predicted 1998 revenue will hit $415 million while operating income will double to $32 million. In the first quarter, ended March 31, Magellan had income of $6.1 million (11› a share) compared with $2 million (5›) a year ago. Revenue rose to $87.3 million from $48.5 million. canoe.ca

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