Magellan Aerospace Corporation announced today that an agreement had been reached between Airbus S.A.S. and Magellan Aerospace securing a major work package on the Airbus A350 XWB. The package, which is an addition to other supply contracts Magellan Aerospace has on the A350XWB, consists of a series of machined and assembled structural components for the fuselage structure in this aircraft which supports the cabin storage bins and aircraft systems and is worth approximately $US 45 million dollars over the next 4 years.

Production will utilize existing and new capacity at Magellan's facilities in the UK in Wrexham, Chalfont and Greyabbey. To support this program Magellan will invest in a range of new high technology machines to optimise efficiency and value to the customer. These investments demonstrate Magellan's commitment to developing world class manufacturing facilities focused on core competencies.

Mr. Jim Butyniec, President and Chief Executive Officer of Magellan discussed the strategic importance of participation on the A350 XWB program and Magellan's continued drive to secure major work packages on future aircraft for Airbus and Boeing programs. He commented, "This new package, together with existing A350 XWB work consolidates Magellan's strong position on this exciting new Airbus program"