Heroux-Devtek Inc.
TSX : HRX

Heroux-Devtek Inc.

June 01, 2016 07:00 ET

Heroux-Devtek Completes Final Assembly of the Boeing 777 Landing Gear Pre-Production Shipset

Important milestone in preparation for production ramp-up and delivery readiness

EVERETT, WASHINGTON--(Marketwired - June 1, 2016) - Héroux-Devtek Inc. (TSX:HRX) ("Héroux-Devtek" or the "Corporation"), a leading international manufacturer of aerospace products, today announced that it has completed the final assembly of the pre-production shipset for the Boeing 777 landing gear. This event represents an important milestone in the Corporation's preparation to execute a long-term contract to supply The Boeing Company ("Boeing") with complete landing gear systems for the Boeing 777 and 777X aircraft.

The final assembly was performed at the Corporation's new facility in Everett, Washington, located in close proximity to Boeing's aircraft assembly plant. Prior to this phase, sub-assembly work was carried out at the Strongsville, Ohio facility, while the Cambridge, Ontario; Laval, Québec; and Springfield, Ohio plants executed the production of complex components. The Longueuil, Québec facility also provided support through its surface treatment expertise. Furthermore, Héroux-Devtek successfully managed a wide supply network comprised of many key product and service providers.

"Finalizing the pre-production shipset for the Boeing 777 landing gear is a major step forward for Héroux-Devtek, as it clearly demonstrates our world-class capabilities in manufacturing large-scale, complete landing gear systems. We are also very pleased to progress as per our planned schedule. The 777 has been a longstanding strategic program for Héroux-Devtek and continued success in executing the largest landing gear contract in our history will further strengthen the business relationship between the two organizations," said Gilles Labbé, President and Chief Executive Officer of Héroux-Devtek.

"Héroux-Devtek is proud to successfully complete this critical preparation phase, which validates our important investments in highly-automated, leading-edge machinery and equipment. We congratulate all Héroux-Devtek team members involved on the project and we extend our gratitude to our valued suppliers and partners for their contribution on this key achievement. The constant support of the Boeing personnel is also very significant, as we work closely together on reaching our goals. We are looking forward to production ramp-up and to meet production requirements associated to deliveries scheduled to begin in early calendar 2017," added Martin Brassard, Vice-President and Chief Operating Officer of Héroux-Devtek.

"The opening of Héroux-Devtek's new facility in Everett is another example of the continuing positive economic impact of Boeing's investments in the Puget Sound region," said Kent Fisher, Vice President and General Manager of Boeing Commercial Airplanes Supplier Management. "As a new landing-gear supplier for the 777 and 777X programs, we're pleased Héroux-Devtek has completed its pre-production landing gear five weeks ahead of schedule. Developing strong new suppliers is an important component of Boeing's long-term competitiveness."

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

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

    Contact:
    MaisonBrison
    Martin Goulet, CFA
    (514) 731-0000