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MAL. (TSE)
Attention Business Editors:
Magellan Aerospace Corporation - New contract wins total $36 million
TORONTO, Oct. 19 /CNW/ - Magellan Aerospace Corporation (the
''Corporation'') (MAL) today announced the receipt of a number of major new
programs.
The Boeing Company (''Boeing''), acting through its Tulsa and Winnipeg
operations, has released contracts valued at $36 million to Magellan Aerospace
Plants.
The contracts, valued at $36 million, are primarily for products
incorporated into the B737 Next Generation (NG) and B747 aircraft and include
the supply of metal bonded structures and machined aluminum and titanium
components. These new contracts establish the basis of new long-term programs
for Magellan Aerospace operations and are the first of a number of anticipated
orders for work packages on a number of different Boeing aircraft.
Magellan currently supplies components on MD11, B717, B737NG, B747, B767
and B777 aircraft and is working with Boeing to yield cost efficiency on its
backlog. This latest order builds on the tradition of this partnership and
will expand the relationship between the two companies.
Magellan Aerospace Corporation, whose shares (MAL) are traded on the
Toronto Stock Exchange, manufactures, repairs and overhauls products for the
international aerospace industry through the following subsidiaries and
divisions: Bristol Aerospace Limited of Winnipeg and Rockwood, Manitoba and
Medicine Hat, Alberta; Chicopee Manufacturing Limited of Kitchener, Ontario;
Fleet Industries Ltd. of Fort Erie, Ontario; Orenda Aerospace Corporation of
Mississauga, Ontario; Orenda Recip Inc. of Truro, Nova Scotia; A-R
Technologies of Richmond, British Columbia; Aeronca, Inc. of Middletown, Ohio;
Middleton Aerospace Corporation of Middleton, Massachusetts; Langley Division
of San Diego, California; and Ambel Precision Manufacturing Corporation of
Bethel, Connecticut.
%SEDAR: 00002367E
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For further information: Richard A. Neill, PRESIDENT AND CHIEF OPERATING
OFFICER, (905) 673-3250 ext. 3571; Bruce W. Gowan, CHIEF FINANCIAL OFFICER,
(905) 677-1889
MAGELLAN AEROSPACE CORPORATION has 22 releases in this database.
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