BANGALORE, India, Feb.
13, 2017 /CNW/ - AERO INDIA
2017 - Magellan Aerospace ("Magellan") announced today plans to
construct a new manufacturing and assembly facility in India.
The new 140,000 sq. ft. building will be constructed on seven acres
in the Aerospace Special Economic Zone near the Bangalore
International Airport. Magellan expects to break ground for
the new facility in June 2017.
Magellan will invest more than CDN $28
million in this state-of-the-art manufacturing and assembly
plant, which will be constructed in three phases. When the
first phase is commissioned near the end of 2017, it will employ
approximately 120 engineers, machinists, procurement professionals,
and quality and management personnel and be equipped with a full
suite of 5-axis machining centres.
Mr. Phillip Underwood, President
and Chief Executive Office of Magellan Aerospace said, "Magellan's
expanding footprint in India, and
increasing spectrum of capabilities, reflects the company's
commitment to provide competitive solutions for major commercial
customers."
The new manufacturing and assembly facility will enable Magellan
to support the production of larger work packages for major
structural assemblies, fabrications, and machined components for
the global market.
About Magellan Aerospace
Magellan Aerospace is a global aerospace company that provides
complex assemblies and systems solutions to aircraft and engine
manufacturers, and defence and space agencies worldwide. Magellan
designs, engineers, and manufactures aeroengine and aerostructure
assemblies and components for aerospace markets, advanced products
for military and space markets, industrial power generation, and
specialty products. Magellan is a public company whose shares trade
on the Toronto Stock Exchange (TSX: MAL), with operating units
throughout Canada, the United States, the United Kingdom, India, and Poland.
Forward Looking Statements
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based on currently available information. When used herein, words
such as "expect", "anticipate", "estimate", "may", "will",
"should", "intend", "believe", and similar expressions, are
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Corporation in light of its experience and its perception of
historical trends, current conditions and expected future
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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.
SOURCE Magellan Aerospace Corporation