Magellan gets work on new Orion shuttle

Magellan 3-month TSX chart

Magellan Aerospace Corp. said Thursday it has won a $12-million US contract to build new heat shields for the Orion space shuttle replacement program.

Magellan's Aeronca facility in Middletown, Ohio, will develop the lightweight titanium honeycomb heat shield panels, which will protect the shuttle from the extremely high temperatures generated on re-entry into the Earth's atmosphere.

The contract includes fabrication of two heat shield panels.

Shares of Magellan rose five cents to close at $5.15 on the TSX.

Lockheed Martin is the prime contractor to design, develop and build the Orion. Lockheed beat Boeing Co. and Northrop Grumman Corp. for that job.

The current space shuttle design is due to be phased out in 2010, and the new Orion shuttle is scheduled for launch in 2011.

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