Magellan Aerospace Corporation (“Magellan”) announced today the signing of significant long-term agreements with Pratt & Whitney, an RTX (NYSE: RTX) business. These important contracts renew existing agreements and cover the supply of complex castings used on a number of legacy and new engine programs. Magellan’s Haley, Ontario facility and its Glendale, Arizona facility will produce the castings.

The renewal of these agreements is a testament to the long-standing business relationship Magellan and Pratt & Whitney have enjoyed since the 1960s and secures our collaboration for the next period of performance. Magellan supplies complex castings for civil and defence, fixed-wing and rotorcraft programs across the globe.

“These agreements mark a major milestone for our companies, leveraging our expertise and innovations to achieve shared success,” said Mr. Haydn Martin, Magellan’s Vice President, Business Development, Marketing and Contracts.

Magellan manufactures highly complex components for the commercial and defence aerospace market including engine housings, gearboxes, and front frame and fan cases. Magellan is a global industry leader in the optimization of 3D sand printing, automated pouring and finishing, robotics, and digital radiography to achieve the highest standard of product and performance while remaining cost competitive.

About Magellan Aerospace Corporation

Magellan Aerospace Corporation 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 and manufactures aeroengine and aerostructure assemblies and components for aerospace markets, advanced proprietary products for military and space markets, and provides engine and component repair and overhaul services worldwide. Magellan is a public company whose shares trade on the Toronto Stock Exchange (TSX: MAL), with operating units throughout North America, Europe, and India.

Forward Looking Statements

Some of the statements in this press release may be forward-looking statements or statements of future expectations based on currently available information. When used herein, words such as "expect", "anticipate", "estimate", "may", "will", "should", "intend", "believe", and similar expressions, are intended to identify forward-looking statements. Forward-looking statements are based on estimates and assumptions made by the Corporation in light of its experience and its perception of historical trends, current conditions and expected future developments, as well as other factors that the Corporation 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240812444063/en/