Magellan Aerospace announced today that an agreement has been reached between GKN Aerospace and Magellan Aerospace (UK) Limited securing a contract extension to deliver aluminum and titanium components from Magellan's Bournemouth and Chalfont St Peter divisions. The components are destined to GKN's Filton facility, which manufactures and assembles wing structures. This contract is projected to generate revenues in excess of GBP200 million through to December 2017.

Jim Butyniec, President and CEO of Magellan Aerospace Corporation, said, "This contract extension demonstrates our commitment to developing strategic long term partnerships with our major customers and their confidence in our ability to provide globally competitive products and services."

"The extension of this contract shows our commitment to work with major suppliers to develop a globally competitive supply chain. GKN will continue to work with Magellan and our other major suppliers helping them to apply advanced lean processes and technologies providing us with a quality, cost effective supply chain," commented Rob Soen, Senior Vice President, Supply Chain Management of GKN Aerospace Services Ltd.

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 focussed on core competencies.