Héroux-Devtek announces the appointment of Stéphane Arsenault as Chief Financial Officer
Réal Bélanger continues with the Corporation as Executive Vice-President, Business Development and Special Projects
LONGUEUIL, QC, Sept. 5, 2013 /CNW Telbec/ - Héroux-Devtek Inc. (TSX: HRX), ("Héroux-Devtek" or the "Corporation," http://www.herouxdevtek.com), a leading Canadian manufacturer of aerospace products, is pleased to announce the appointment of Mr. Stéphane Arsenault as Chief Financial Officer of Héroux-Devtek. Mr. Arsenault assumes these new duties effective today and will report to Mr. Gilles Labbé, President and Chief Executive Officer of Héroux-Devtek. He succeeds Mr. Réal Bélanger, who will continue to turn his experience of more than 20 years with the Corporation to good account as Executive Vice-President, Business Development and Special Projects.
Mr. Arsenault has been with Héroux-Devtek since 1997. Over the last 16 years, he has held positions of increasing responsibility as Assistant Controller and Controller of the Longueuil plant, Finance Manager and Vice-President, Finance and Administration, Landing Gear Product Line and, for the last three years, Vice-President, Control and Information Technology of the Corporation, reporting to Mr. Bélanger. Mr. Arsenault obtained his bachelor's degree in business administration from HEC Montréal in 1993. He is currently a CPA and CA, having become a chartered accountant in 1995. After completing his studies, Mr. Arsenault worked for an international public accounting firm as senior auditor.
"Stéphane's appointment ensures stability and continuity in our operations and in the actions taken, following the recent sale of the Corporation's Aerostructure and Industrial Products operations. We will also benefit from the experience of Réal who, until today, was Executive Vice-President and Chief Financial Officer, in ensuring an optimal transition. In his new role, Réal will second me in matters including strategic acquisitions, aimed primarily at increasing our presence and market share in the landing gear sector, and will provide leadership of special projects. We have a first-class team and these recent appointments attest to the Corporation's extensive capacity for development of human resources within its ranks and to the attention we give to succession planning," said Mr. Gilles Labbé, President and Chief Executive Officer of Héroux-Devtek.
Héroux-Devtek Inc. (TSX: HRX) is a Canadian company specializing in the design, development, manufacture and repair and overhaul of landing gear systems and components for the Aerospace market. The Corporation is the third largest landing gear company worldwide, supplying both the commercial and military sectors of the Aerospace market with new landing gear systems and components, as well as aftermarket products and services. The Corporation also manufactures electronic enclosures, heat exchangers and cabinets for airborne radar, electro-optic systems and aircraft controls through its Magtron operations. Approximately 70% of the Corporation's sales are outside Canada, mainly 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 and Toronto, Ontario; as well as Springfield and Cleveland, Ohio.
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.
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President and Chief Executive Officer
Martin Goulet, CFA