Magellan Aerospace Corporation announced today that an agreement has been reached between GKN Aerospace and Magellan Aerospace (UK) Limited, securing a work package containing structural components for the Airbus A320 and A330 aircraft.

The package contains a number of major aluminium and titanium structural components, and is expected to generate revenues in excess of GBP21 million ($Cdn 34 million) over the next five years. Deliveries are due to commence in January 2011.

Jim Butyniec, President and CEO of Magellan Aerospace Corporation said, "This is an exciting contract for the Corporation as it enhances our position as a global supplier of aerospace components. This is good news for everyone within Magellan."

"The award of this package is in support of GKN's strategy of strengthening and consolidating its global supply base to provide GKN's customers and manufacturing operations with world class supply chain solutions." commented Rob Soen, Senior Vice President, Supply Chain Management of GKN Aerospace Services Ltd.

Phil Underwood, Vice President and General Manager of Magellan UK, said "This work package will be divided amongst three of Magellan UK's manufacturing facilities, at Bournemouth, Chalfont St Peter and Wrexham, utilising existing core manufacturing capabilities. The products have been selected for each site to ensure maximized manufacturing efficiencies, focusing on core competencies, providing the optimum manufacturing solution."

To support this program Magellan will make further investments in high speed 5-axis machining technology. These future investments demonstrate Magellan Aerospace's commitment to world class manufacturing facilities focused on core competencies.