* Says to manufacture components for A350 XWB program
* Pricing of units yet to be finalized
Oct 1 (Reuters) - Canada's Magellan Aerospace Corp , said its UK unit has reached an agreement with Airbus to make machined components for the centre wing box of Airbus' A350 XWB twin-aisle commercial aircraft.
The work package secured by Magellan Aerospace (UK) Ltd consists of a number of large, complex machined aluminium-lithium components for the aircraft's centre wing box, including Rib 1 and a range of attachment fittings and flange Ribs.
The agreement covers delivery of the first 400 units to Airbus, with unit pricing yet to be finalized, Magellan said in a statement.
The aerospace components supplier said initial production will utilize existing capacity at Magellan's facilities in the UK at Bournemouth and Wrexham, with investment in new high-technology equipment planned as the production rate increases in 2012.
Shares of Magellan closed at C$1.53 Thursday on the Toronto Stock Exchange.
(Reporting by Koustav Samanta in Bangalore; Editing by Maju Samuel) Keywords: MAGELLANAEROSPACE/ (koustav.samanta@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 4135 5800; Reuters Messaging: koustav.samanta.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
* Pricing of units yet to be finalized
Oct 1 (Reuters) - Canada's Magellan Aerospace Corp , said its UK unit has reached an agreement with Airbus to make machined components for the centre wing box of Airbus' A350 XWB twin-aisle commercial aircraft.
The work package secured by Magellan Aerospace (UK) Ltd consists of a number of large, complex machined aluminium-lithium components for the aircraft's centre wing box, including Rib 1 and a range of attachment fittings and flange Ribs.
The agreement covers delivery of the first 400 units to Airbus, with unit pricing yet to be finalized, Magellan said in a statement.
The aerospace components supplier said initial production will utilize existing capacity at Magellan's facilities in the UK at Bournemouth and Wrexham, with investment in new high-technology equipment planned as the production rate increases in 2012.
Shares of Magellan closed at C$1.53 Thursday on the Toronto Stock Exchange.
(Reporting by Koustav Samanta in Bangalore; Editing by Maju Samuel) Keywords: MAGELLANAEROSPACE/ (koustav.samanta@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 4135 5800; Reuters Messaging: koustav.samanta.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.