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Technology
Magellan Aerospace Corporation (TSX: MAL) Signs Long-Term Agreements With Pratt & Whitney Canada
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Highlights
Magellan Aerospace Corporation (TSX: MAL) has entered into a series of long-term agreements (LTAs) with Pratt & Whitney Canada, a division of RTX, extending existing contracts and introducing new manufacturing work through 2034. These agreements include production of complex machined components that will be manufactured at Magellan’s facility in Tumkur, India.
The Tumkur plant, located in the KIADB Industrial Area of Karnataka, will see an increase in operational scope due to the expanded contract commitments. As part of the agreement, Magellan plans to invest in a new machining cell, enhancing the site’s existing capabilities in precision CNC machining and aeroengine component production.
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