09:09 AM EDT, 04/30/2025 (MT Newswires) -- Magellan Aerospace ( MALJF ) , which rose 2.8% to near 52 week highs yesterday, on Wednesday announced that it has signed long-term agreements with Pratt & Whitney Canada.

The agreements include a combination of contract extensions to legacy agreements and new manufacturing program awards, under which complex machined components will be delivered until 2034 from Magellan's Tumkur facility in Karnataka, India.

The Tumkur facility specializes in the manufacture of CNC-machined aerostructure and aeroengine assemblies with cutting edge technology, said the company.

"Magellan Aerospace ( MALJF ) is proud to deepen our relationship with Pratt & Whitney Canada through these agreements," said Magellan's Vice President of Business Development, Marketing and Contracts Haydn Martin. "These contracts reflect the trust in our ability to deliver exceptional quality, reliability, and performance. We look forward to continuing our successful collaboration. The agreements reaffirm the mutual commitment between Magellan's and Pratt & Whitney Canada and underscore Magellan's dedication to supporting our customers with reliable and innovative solutions in a highly competitive market."