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Magellan buys Bristol
Magellan Aerospace has agreed to buy Bristol Aerospace from Rolls-Royce for C$62.5 million ($45.1 million). Bristol's business, based in Winnipeg, ranges from upgrading aircraft to manufacturing rockets. Toronto-based Magellan owns aerostructures company Fleet Aerospace and aero-engine developer Orenda. A share issue will underwrite the acquisition.
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