Magellan Aerospace wins Canadian contract to produce M-72 anti-tank weapon

Magellan Aerospace (MALJF) was awarded a contract by the Canadian government to produce the M-72 Light Anti-Tank Weapon under Canada's Munitions Supply Program. The company didn't disclose the value of the contract.

Supports Canadian defense strategy

For investors, the award expands Magellan's role in Canada's defense industrial base as Ottawa increases investment in domestic weapons production and military readiness. The contract also reflects broader efforts by Canada and other NATO members to strengthen local manufacturing capacity and reduce reliance on foreign suppliers for critical munitions.

Magellan said the agreement establishes domestic production capability for the shoulder-fired M-72 anti-armor weapon, which is used by military forces around the world.

The company said manufacturing the weapon in Canada is intended to strengthen supply chain resilience and provide the Canadian Armed Forces with a domestic source of the system.

Haydn Martin, Magellan's vice president of business development, marketing and contracts, said the agreement supports Canada's goal of establishing sovereign manufacturing capability for critical defense equipment.

Magellan said the program aligns with the Canadian government's broader objectives of expanding defense production capacity, strengthening domestic industrial capabilities and supporting allied defense readiness through a North American and NATO-compatible industrial base.