Heroux-Devtek Inc.
TSX : HRX

Heroux-Devtek Inc.

November 04, 2016 07:30 ET

Heroux-Devtek Broadens the Scope of an Agreement to Manufacture Landing Gear Components and Assemblies for the Embraer KC-390 Aircraft

Long-term agreement further increases Heroux-Devtek's content on the program

LONGUEUIL, QUEBEC--(Marketwired - Nov. 4, 2016) - Héroux-Devtek Inc. (TSX:HRX) ("Héroux-Devtek" or the "Corporation"), a leading international manufacturer of aerospace products, today announced that it has been awarded supplemental work by Embraer to provide landing gear components and assemblies for the KC-390 aircraft. The contract broadens the scope of an existing agreement and will span over the life of the program.

Under the terms of the agreement, Héroux-Devtek will manufacture, assemble and deliver landing gear components for new aircraft production and spare parts requirements. The work will be performed at certain Héroux-Devtek facilities located in the United Kingdom, United States and Canada.

The KC-390 is a new multi-mission transport aircraft and, as at October 1st, 2016, the program had received 28 firm orders from the Brazilian Air Force as well as letters of interest from five other nations, representing potential orders for 32 additional aircraft.

"Héroux-Devtek is delighted to further expand its reach on the KC-390 program and to enhance its relationship with Embraer. This agreement will generate revenues for an extended period of time as it spans the entire life of the program. We are looking forward to once again demonstrate that our wide manufacturing footprint provides us with the flexibility to react quickly in order to supply competitive, high-quality solutions to leading OEMs of the global aerospace industry," said Martin Brassard, Vice-President and Chief Operating Officer of Héroux-Devtek.

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 80% of the Corporation's sales are outside Canada, including about 55% 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

  • MaisonBrison
    Martin Goulet, CFA
    (514) 731-0000