A350XWB DEAL FOR MAGELLAN

Dino D'Amore
By Dino D'Amore February 8, 2011 16:56

A350XWB DEAL FOR MAGELLAN

Airbus has awarded a contract for Magellan Aerospace to supply detail components for the A350 XWB.

The contract will provide more than US$20 million of revenue over 10 years, Magellan said yesterday.

The Toronto-based company said the work will be done by its UK subsidiary in Bournemouth, England. The contract requires the machining and treatment of complex aluminium lithium detail components and delivery to the final assembly line in Toulouse, France. “This (work) package, together with Magellan’s existing A350 XWB work on the centre wing box and the pylon secondary structure, augments Magellan’s position on this exciting new program,” said Jim Butyniec, Magellan’s president and chief executive.

Its shares were up four cents at $4.60 Monday afternoon on the Toronto Stock Exchange.

Dino D'Amore
By Dino D'Amore February 8, 2011 16:56
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