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Company Jul 16, 2018 1:00 PM

thyssenkrupp Aerospace will be entering into a Long Term Agreement with Magellan Aerospace

thyssenkrupp Aerospace, a company of thyssenkrupp Materials Services, and Magellan Aerospace have agreed on intensive cooperation for the coming years. The aviation experts of the thyssenkrupp Group will handle the entire warehouse and supply chain management of raw materials as well as other processing services for the Magellan facilities in Europe and India. Magellan Aerospace is a global aerospace company that develops, designs and manufactures aircraft components worldwide.

The contract value is circa USD $30M per annum, with the potential to grow further through additional material supply and value added services, such as billet preparation and waterjet cutting. thyssenkrupp Aerospace will be commencing supply from July this year. The main product group is aluminum plate which will be serviced from the thyssenkrupp Aerospace UK Belfast and Birmingham operations, with the tube and extrusion products supplied from the thyssenkrupp Aerospace UK site in Milton Keynes. Approximately 10% of the volume will be provided by the thyssenkrupp Aerospace facilities in Poland and India.

"The new long-term agreement with Magellan Aerospace is an important step in our strategic evolution and a vote of confidence in our strength as a global partner to the aerospace industry," says Laura Holmes, CEO thyssenkrupp Aerospace.

The strategy of thyssenkrupp Aerospace is to comprehensively understand the high demands and challenges of its customers and to offer tailor-made solutions. "This allows our partners to fully concentrate on their core competencies," says Holmes.

As one of the foremost global providers in the market for production and raw materials, processing services and the management of complex supply chains, thyssenkrupp Aerospace supplies the required materials just in time, cut and machined precisely to customer specifications. Among other things, the goal is that customers can concentrate fully on their core business. The company has a worldwide network of more than 1,800 employees and 44 locations in over 20 countries.

About Magellan Aerospace

Magellan Aerospace is a global aerospace company that provides complex assemblies and systems solutions to aircraft and engine manufacturers as well as defense 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.