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Magellan Aerospace Secures Contract with Collins Aerospace Systems – Landing Gear

Magellan Aerospace Corporation ("Magellan") announced an agreement with Collins Aerospace Systems - Landing Gear ("Collins"), for the supply of nose landing gear assemblies for the B737 aircraft. The assemblies, comprised of complex machined titanium components, are valued at approximately CAD $52 million and will be delivered through 2024 from Magellan’s facility in Kitchener, Ontario.

In order to provide the best solution for Collins, Magellan’s vertically integrated deliverable will utilize their global resources in Kitchener, New York, India, and Poland. As the final assembly of the B737 landing gear takes place in Collins’ Krosno, Poland facility, the proximity of Magellan’s Poland facility provides the opportunity to stage buffer kits in close proximity to Collins’ facility, readily available to mitigate production risk.

In securing this agreement, Magellan has demonstrated the ability to meet the competitive demands of cost, quality and performance expected by Collins.

Mr. Haydn Martin, Vice President, Business Development and Contracts for Magellan said, "This competitively won business for the B737 platform yields in excess of 60 aircraft sets per month and speaks to the reputation that Magellan has built in the aerospace sector. The confidence that Collins has placed in Magellan is significant and demonstrates our ability to offer our customers comprehensive and reliable solutions."

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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20200113005661/en/

Contacts

Laura Podaima
Director, Corporate Communications
Magellan Aerospace
Ph. 204 788 2831
laura.podaima@magellan.aero