LONGUEUIL, QC, Dec. 19, 2013 /CNW Telbec/ - Héroux-Devtek Inc.
(TSX: HRX), ("Héroux-Devtek" or the "Corporation" http://www.herouxdevtek.com), a leading Canadian manufacturer of aerospace products, today
announced that its 110 unionized Landing Gear products employees at the
Laval, Québec facility have agreed to an advanced four-year extension
to the current collective agreement, which now extends through December
31, 2018. The workers concerned are members of the International
Association of Machinists and Aerospace Workers, Local 1758, affiliated
with District 11 (FTQ).
"We are pleased that our employees have once again shared our vision in
further building our Laval Center of Excellence, specialized in
manufacturing small and medium size complex components for landing gear
systems. The changes agreed to as part of this new labour agreement
will make our Laval site more productive and competitive and will allow
Héroux-Devtek to proceed with new investments in state-of-the-art
automated systems and equipment," declared Gilles Labbé, President and
Chief Executive Officer of Héroux-Devtek.
Certain complex components for the Boeing 777 contract awarded to
Héroux-Devtek will be manufactured at the Laval facility following
these investments in new systems and equipment.
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 suppliers of 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.
SOURCE: Héroux-Devtek Inc.
For further information:
President and Chief Executive Officer
Martin Goulet, CFA