Magellan Aerospace Breaks Ground for New Manufacturing and Assembly Plant in India

BANGALORE, India, Nov. 16, 2017 /PRNewswire/ -- Magellan Aerospace ("Magellan") hosted a traditional groundbreaking ceremony today for the company's new manufacturing and assembly facility in India.   Magellan was honoured to have Canada's federal minister of International Trade, The Honourable François-Philippe Champagne participate in the event that was also attended by an esteemed group of customers, government officials and local business colleagues.  The new 140,000 square foot building will be constructed on seven acres in Hitech Defence and Aerospace Park (Aerospace SEZ Sector) in Devanahalli, Bengaluru, near the Bangalore International Airport.

Already an established presence in India's aerospace sector for more than a decade, Magellan will invest more than CDN $28 million in this state-of-the-art manufacturing and assembly plant.  Construction of the plant will be in two phases with the first phase planned to become operational near the end of 2018.   The plant will employ approximately 120 high technology and support positions, and will be equipped with a comprehensive range of high speed 4 and 5-axis machining centres, selected to optimise manufacturing efficiency.

"Canada's world-class aerospace sector is an international success story that symbolizes excellence and provides more jobs for the middle class for both Canada and India.  We are proud of Magellan's long-standing presence in the Indian market and today's expansion illustrates how Canadian companies have always been at the forefront of aerospace innovation. Continued commercial engagement in this region is at the core of our progressive trade agenda which helps contribute to stronger and more innovative economies for both Canada and India."
- The Honourable François-Philippe Champagne, Minister of International Trade Canada

Mr. Haydn Martin, Vice President, New Business Development of Magellan Aerospace said, "Magellan is excited to officially launch this important new venture in India.  Together, with our two longstanding  Joint Venture relationships in India; API Surface Treatments and Triveni Aeronautics PVT Limited, Magellan is positioned to be one of the largest suppliers of 'Make in India' manufactured commercial aircraft components.  This new facility, coupled with Magellan's extensive machining operations in Europe and North America, will give us a highly competitive offering for our customers."

This facility supports Magellan's major North American and European OEM customers' drive to grow the 'Make in India' content on their aircraft and demonstrates Magellan's on-going commitment to play a major role in developing the supply chain in India.

About Magellan Aerospace

Magellan Aerospace 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.

For further information: Mr. Jason Addis, Vice President, European Operations, Magellan Aerospace, Ph. +44 07714 091642; Mr. Haydn Martin, Vice President, New Business Development, Magellan Aerospace, Ph. +44 077345 01134