Magellan Aerospace secures multi-year Boeing 777X & 787 Dreamliner contracts

Magellan Aerospace and The Boeing Company announced today the signing of new long-term contracts for the supply of complex titanium machined components for the 777X program. These components will be manufactured by Magellan's facilities in New York, NY and Kitchener, ON.

In addition to the new contract awards, Magellan and Boeing agreed to a long term contract extension on Magellan's existing 787 Dreamliner program statement of work, produced at its New York facilities. The new long-term 777X contracts and the 787 extension period will take effect in 2017. In securing these agreements Magellan has met Boeing's customer affordability goals through the Partnering for Success program on these new long term contracts.

Mr. Phillip Underwood, President and CEO of Magellan said "these awards reflect Magellan's long term and ongoing commitment to the Boeing Company. Magellan continues to focus on optimizing its performance in support of Boeing's needs into the next decade".