Heroux-Devtek Inc.
TSX : HRX

Heroux-Devtek Inc.

December 02, 2015 08:30 ET

Heroux-Devtek Renews an Important Landing Gear Repair and Overhaul Contract With the U.S. Air Force

Multi-year agreement extends the current relationship to September 2021

LONGUEUIL, QUÉBEC--(Marketwired - Dec. 2, 2015) - Héroux-Devtek Inc. (TSX:HRX) ("Héroux-Devtek" or the "Corporation"), a leading international manufacturer of aerospace products, today announced that it has renewed an important long-term contract with the U.S. Air Force ("USAF") to provide landing gear repair and overhaul ("R&O") services for the C-130, E-3 and KC-135R aircraft.

The long-term contract spans a period extending to the end of the U.S. Government's 2021 fiscal year in September 2021. Under the terms of the agreement, Héroux-Devtek is also responsible for the manufacturing and delivery of certain aftermarket components for these aircraft.

"This important multi-year agreement further confirms Héroux-Devtek's status as a world leader in the R&O market for defence aircraft landing gear. Our proven track record for quality, on-time delivery and second-to-none customer service has fostered a solid relationship with the USAF, for which we have been providing R&O services for 45 years. This contract also highlights the diversity of Héroux-Devtek's business activity in the global defence aerospace market through its participation on many leading programs, as well as by its involvement in both new component manufacturing and aftermarket products and services," said Gilles Labbé, President and CEO 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 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

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

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