Magellan Aerospace (“Magellan”) announced today, that they have secured a 5-year agreement with Airbus to supply wing ribs for the A330 aircraft. Magellan will manufacture ribs 2 through 5, the largest ribs in the skeletal structure of the aircraft wing. Revenue generated from production of these wing ribs is estimated to be more than CDN $48 million dollars over the term of the contract. These ribs will be produced by Magellan in the United Kingdom for the Airbus wing assembly facility.

Mr. Phillip Underwood, Magellan’s President and CEO said, “This new rib manufacture package complements Magellan’s existing spar and rib manufacturing for the A320 and A350 programs, and demonstrates Airbus’ confidence in Magellan’s advanced manufacturing processes.”