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Toronto, January 10, 2023–(BUSINESS WIRE)–The Government of Canada says Magellan Aerospace Corporation (“Magellan”) has reached a definitive agreement to acquire 88 F-35 fighter jets for the Royal Canadian Air Force commend the announcement of By choosing the F-35, Canada continues the relationships established between the original partner nations for the development of her F-35.
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Canada will buy 88 F-35As for the Royal Canadian Air Force (photo credit: Lockheed Martin)
The announcement is of great benefit to the Canadian aerospace industry. To date, the Canadian company has won a lucrative contract worth his US$2.7 billion as part of his F-35 Global Supply chain as a result of Canada’s partnership in the F-35 program. The Canadian economy is expected to benefit from him over C$16.9 billion over the duration of the program. The actions taken by the government regarding the F-35 program will continue to bring economic and technological advantages to Canada for decades to come.
As an international partner in this program, Canada’s aerospace industry has provided many first-time opportunities to work directly into F-35 production, empowering companies to adopt some of the most advanced technology in the world. . A formal F-35 selection is expected to secure Canadian industry investment in the program and facilitate access to future maintenance opportunities.
Magellan congratulates the Lockheed Martin team. Magellan has provided complex structural assemblies and other components to his global F-35 program since the initial system design and development stages.
Magellan is excited to continue its participation in the F-35 program, which includes eight international partners in the United States, United Kingdom, Italy, Netherlands, Australia, Norway, Denmark and Canada. His nine foreign military sales companies in Israel, Japan, South Korea, Poland, Belgium, Singapore, Finland, Switzerland and Germany also source and operate his F-35s.
About Magellan Aerospace Corporation
Magellan Aerospace Corporation is a global aerospace company that provides complex assembly and system solutions to aircraft and engine manufacturers, defense and space agencies worldwide. Magellan designs and manufactures aero engine and aerostructure assemblies and components for the aerospace market, advanced proprietary products for the military and space markets, and provides engine and component repair and overhaul services worldwide. . Magellan is a publicly traded company whose shares are traded on the Toronto Stock Exchange (TSX: MAL), with operations in North America, Europe and India.
Forward-Looking Statements
Certain statements in this press release may be forward-looking statements or statements of future expectations based on currently available information. As used herein, “expect,” “predict,” “estimate,” “may,” “will,” “should,” “intend,” “believe.” Words such as, and similar expressions are intended to identify forward-looking statements. statement. Forward-looking statements are based on our experience, historical trends, current conditions, our perception of expected future developments and other factors that we believe are appropriate under the circumstances. Based on estimates and assumptions made by Many factors cause our actual results, performance or achievements to be expressed or implied by forward-looking statements, including those set forth in the Risk Factors section of our Annual Information Form. (a copy is available at www.sedar.com). These factors should be considered carefully and readers should not place undue reliance on our forward-looking statements. We do not intend and undertake 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 at businesswire.com: https://www.businesswire.com/news/home/20230110005945/en/
contact address
Laura Podaima
Director, Corporate Communications
Magellan Aerospace
Phone +204 228 3791
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