Mr. Phillip Underwood reports

MAGELLAN AEROSPACE PARTNERS WITH AEQUS PRIVATE LIMITED TO EXPLORE SETTING UP A SAND CASTING FACILITY IN INDIA

Magellan Aerospace Corp. signed a memorandum of understanding (MOU) today with Aequs Private Ltd. to explore the development of a business plan for setting up a 50/50 jointly owned aerospace sand-casting facility situated at the Belagavi Aerospace Cluster (BAC) in Karnataka, India.

The proposed facility aims to meet the sand-casting demands in the growing aerospace industry. This increased sand-casting capacity would support both commercial and defence sectors.

Currently, India has a limited number of aerospace-qualified NADCAP (National Aerospace and Defense Contractors Accreditation Program) sand-casting facilities. This new venture aims to enhance sand-casting capabilities in Southeastern Asia. Magellan is currently a centre of excellence for sand castings in North America, with the ability to cast complex geometries in the industry utilizing the chemically bonded sand process. The North American facilities have expertise in utilizing innovative, leading technologies, such as three-dimensional sand printing, robotics, digital radiography and automated differential pressure bottom pouring.

India's aerospace sector has experienced growth over the past decade, driven by government initiatives -- including Make in India and UDAN Scheme -- growth in the private sector and increasing air traffic. Air travel demand in India has surged, making it one of the fastest-growing aviation markets in the world.

In 2007, Aequs and Magellan established Aerospace Processing India (API), a joint venture that was the first third party facility approved by both Airbus and Boeing in India, providing innovative surface treatment solutions not readily available in India.

In 2024, Magellan and Aequs entered a memorandum of understanding to explore the development of a business plan for a jointly owned facility for maintenance, repair and overhaul of aircraft engines in Karnataka, India. These ventures demonstrate the foundation of the Aequs and Magellan relationship that aims to deliver effective solutions to support a global customer base.

Commenting on this newly agreed-to MOU, Aravind Melligeri, chairman and chief executive officer of Aequs, said: "This proposal to explore the setting up of a sand-casting facility with our long-time partner, Magellan Aerospace, at the Belagavi Aerospace Cluster is aligned with our commitment to offer our customers world-class manufacturing processes and technologies. It will also contribute to the vertically integrated manufacturing capabilities that Aequs operates at the cluster. Advancements in sand-casting technology have made it possible to provide lightweight, yet robust, components made to stringent standards that the aerospace industry demands."

Phillip Underwood, president and chief executive officer of Magellan Aerospace, said: "With the anticipated aerospace and aviation growth, this potential new sand-casting venture in India will focus on infrastructure development, cost advantages, capacity increases and strategic initiatives that are essential to realizing the sector's global potential. Magellan is committed to helping grow this commodity in India. We are ready to meet the growing needs of our castings customers with the cost-effective and quality solutions they have come to expect."

About Magellan Aerospace Corp.

Magellan Aerospace is a global aerospace company that provides complex assemblies and systems solutions to aircraft and engine manufacturers, and defence 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 with operating units throughout North America, Europe and India.

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