Heroux-Devtek Inc.
TSX : HRX

Heroux-Devtek Inc.

May 25, 2016 07:05 ET

Heroux-Devtek Recognized by Lockheed Martin as a Top Performing Supplier on the F-35 Lightening II Program

Production contract for door uplock systems extended for two additional years

LONGUEUIL, QUÉBEC--(Marketwired - May 25, 2016) - Héroux-Devtek Inc. (TSX:HRX) ("Héroux-Devtek" or the "Corporation"), a leading international manufacturer of aerospace products, today announced that its Laval, Quebec facility, which manufactures a door uplock system for the F-35 program, has received an important recognition of its performance by Lockheed Martin Aeronautics in Fort Worth, Texas. The award recognizes the exceptional quality and on-time delivery of Héroux-Devtek's products for the F-35 program from the Laval facility. The award is given to the top 25 suppliers out of approximately 1,200.

Héroux-Devtek also extended its current agreement with Lockheed Martin for the production of the F-35 door uplock systems at the Laval facility. This contract covers deliveries in calendar years 2017 and 2018 for the LRIP 9 and 10 production lots. The door uplock systems were designed and qualified by Héroux-Devtek's engineering team under a contract signed in 2004 and have since been produced by the Corporation for all F-35 variants.

"Héroux-Devtek is proud to be recognized by Lockheed Martin for its exceptional performance, which reflects the talent and dedication of our employees. Our team recognizes the importance of the F-35 program for both organizations and is firmly committed to achieving success. This program allowed Héroux-Devtek to develop a unique expertise in our field and we see additional opportunities on this program in the future," 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.

ABOUT LOCKHEED MARTIN

Headquartered in Bethesda, Maryland, Lockheed Martin is a global security and aerospace company that employs approximately 125,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services.

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