Heroux-Devtek Inc.
TSX : HRX

Heroux-Devtek Inc.

September 18, 2015 08:30 ET

Heroux-Devtek Signs Long-Term Contract to Supply Complete Landing Gear Systems for the AW609 Program

Life-cycle mandate from AgustaWestland for landing gear design and development

LONGUEUIL, QUÉBEC--(Marketwired - Sept. 18, 2015) - Héroux-Devtek Inc. (TSX:HRX) ("Héroux-Devtek" or the "Corporation"), a leading international manufacturer of aerospace products, today announced that it has been awarded a long-term contract by Finmeccanica-AgustaWestland to supply the landing gear for the AW609 TiltRotor aircraft.

Under the terms of the agreement, Héroux-Devtek will design, develop, fabricate, assemble, test and deliver complete landing gear systems for the AW609 aircraft. This life-cycle mandate also includes the provision of spare parts. The new contract for Héroux-Devtek follows the introduction by AgustaWestland of several performance and product improvements to enhance the AW609's capabilities.

Design work is expected to begin very shortly and will be mainly carried out at the St-Hubert (Québec) and Runcorn (UK) facilities, marking the first partnership between Héroux-Devtek's North American operations and AgustaWestland. The Corporation's European operations had previously designed and developed the landing gear for AgustaWestland's AW101 aircraft.

"This long-term contract exemplifies our world-class capabilities in providing value-added, turnkey solutions for complete landing gear systems. Héroux-Devtek has a strong engineering team and is well positioned to support design and development programs for OEMs in the aerospace industry. This new life-cycle mandate brings us closer to our objective of generating 30% of our sales from proprietary products by 2020," said Martin Brassard, Vice-President and Chief Operating Officer of Héroux-Devtek.

"Héroux-Devtek is proud to join forces with AgustaWestland, one of the world's largest rotorcraft manufacturers, on the only commercial tiltrotor program in development to this date. This partnership also validates our strategic acquisition in Europe in 2014. The Corporation's expanded network has enhanced our relationships with leading OEMs on that continent and provided Héroux-Devtek with a solid platform for capturing business opportunities. We are looking forward to further increase our reach in the global landing gear market," added Gilles Labbé, President and Chief Executive Officer of Héroux-Devtek.

As of April 2015, almost 60 AW609 aircraft have been ordered by global customers for a variety of roles and missions, including offshore transportation, emergency medical services and patient transfer, search and rescue, as well as executive passenger transport and government duties. The AW609 development program is focused on obtaining U.S. Federal Aviation Administration certification in 2017.

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.

ABOUT AGUSTAWESTLAND

Finmeccanica-AgustaWestland provides total rotorcraft capability to its customers worldwide, with the broadest portfolio of latest-generation products across all main weight categories for all commercial/military applications. With manufacturing operations in Italy, the UK, Poland and the USA, almost 13,000 employees and an expanding global network of industrial partners, support and service centres, the company is able to offer tailored service and support solutions to its customers, to maximise performance, availability and operational efficiency.

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