Heroux-Devtek Inc.
TSX : HRX

Heroux-Devtek Inc.

November 12, 2015 08:30 ET

Heroux-Devtek Announces Continued Cooperation With Saab AB to Provide Global Maintenance Support for Saab 340 & Saab 2000 Landing Gear

LONGUEUIL, QUÉBEC--(Marketwired - Nov. 12, 2015) - Héroux-Devtek Inc. (TSX:HRX) ("Héroux-Devtek" or the "Corporation"), a leading international manufacturer of aerospace products, today announced that its subsidiary Héroux-Devtek UK (formerly APPH Ltd.) has extended its global strategic maintenance agreement with Saab AB, Support & Services, Regional Aircraft ("Saab RA"). The extended agreement further enhances the global maintenance, repair and overhaul (MRO) services and support available to operators of all variants of the Saab 340 and Saab 2000 aircraft families.

This extended global strategic maintenance cooperation combines Héroux-Devtek´s expertise as a landing gear designer and manufacturer with Saab RA´s operator and aircraft service provider capability, technical expertise and knowledge. Héroux-Devtek´s design ownership, combined with Saab RA´s role as original equipment manufacturer and type certificate holder of the Saab 340 and Saab 2000 aircraft, makes it possible to develop new repair schemes and service schedules. Saab RA´s relationship with Héroux-Devtek UK began in the 1980s, when jointly designing the landing gear for the Saab 340 and Saab 2000 aircraft.

The agreement enhances maintenance support for landing gear to be continuously made available to all Saab 340 and Saab 2000 operators through Saab RA via Héroux-Devtek´s facilities in Runcorn, UK and Wichita, Kansas. This work can be contracted through Saab's Regional Aircraft Support organizations in Linköping, Sweden and Ashburn, Virginia.

The Saab 340 aircraft remains the most attractive option in the 30-seat class with no new aircraft available to replace it. More than 450 aircraft were built between 1983 and 1999. Meanwhile, the Saab 2000 was designed to carry 50 to 58 passengers and 63 aircraft were built between 1992 and 1999. Héroux-Devtek remains committed to working with operators and Saab RA to manage the direct operating costs and provide a platform for many years of continued, cost effective, in-service life.

PROFILE

Héroux-Devtek Inc. (TSX:HRX) is an international company specializing in the design, development, manufacture and repair and overhaul of landing gear and actuation systems and components for the Aerospace market. The Corporation is the third largest landing gear company worldwide, supplying both the commercial and defence sectors of the Aerospace market with new landing gear systems and components, as well as aftermarket products and services. The Corporation also manufactures hydraulic systems, fluid filtration systems and electronic enclosures. Approximately 75% of the Corporation's sales are outside Canada, including about 50% in the United States. The Corporation's head office is located in Longueuil, Québec with facilities in the Greater Montreal area (Longueuil, Laval and St-Hubert); Kitchener, Cambridge and Toronto, Ontario; Springfield and Strongsville, Ohio; Wichita, Kansas; Everett, Washington; and Runcorn, Nottingham and Bolton, United Kingdom.

FORWARD-LOOKING STATEMENTS

Except for historical information provided herein, this press release may contain information and statements of a forward-looking nature concerning the future performance of the Corporation. These statements are based on suppositions and uncertainties as well as on management's best possible evaluation of future events. Such factors may include, without excluding other considerations, fluctuations in quarterly results, evolution in customer demand for the Corporation's products and services, the impact of price pressures exerted by competitors, and general market trends or economic changes. As a result, readers are advised that actual results may differ from expected results.

Contact Information

  • Heroux-Devtek Inc.
    Gilles Labbe
    President and Chief Executive Officer
    (450) 679-3330

    MaisonBrison
    Martin Goulet, CFA
    (514) 731-0000