Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.
Magellan Aerospace (MAL-T) says it has secured a five-year agreement with Airbus to supply wing ribs for the A330 aircraft. Revenue generated from production of the wing ribs is estimated to be more than $48-million dollars over the term of the contract, the company said.
“This new rib manufacture package complements Magellan’s existing spar and rib manufacturing for the A320 and A350 programs, and demonstrates Airbus’ confidence in Magellan’s advanced manufacturing processes,” stated CEO Phillip Underwood.
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Kinaxis Inc. (KXS-T) announced late Thursday “formal plans” to deploy additional data centers in Tokyo and Osaka, which it said is part of the company’s ongoing global expansion.
“Leading Japanese companies such as Toyota, Nissan, ASICS, Lixil, Santen, and Olympus, the most recent Kinaxis customer to be signed, are among the many Japanese organizations in a wide range of industries including automotive, life sciences and pharmaceuticals, and consumer packaged goods who have selected RapidResponse to better manage their supply chain operations,” the company stated, citing its product.
“To support the company’s sustained growth in Japan, Kinaxis, the first provider of a cloud-based, software as a service (SaaS) offering for supply chain and sales and operations planning (S&OP), will host supply chain operations for Japan’s largest and most successful brands from the new data centers starting in the company’s third quarter.”
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Boralex Inc. (BLX-T) is buying Kallista Energy Investment SAS in France for about $202-million and the assumption of $146.7-million in project debt.
Boralex said the price will be paid from its recently enhanced revolving credit facility and that it expects an increase in discretionary cash flow per share following the transaction.
Boralex CEO Patrick Lemaire called the deal “very strategic and beneficial for Boralex and will strengthen our position as France’s largest independent producer of onshore wind power... .”
He said Boralex will “enjoy a number of operational synergies and significantly improve its growth prospects in light of the very ambitious renewable energy development goals set by the French government.”
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