LONGUEUIL, QC, Oct. 13 /CNW Telbec/ - Héroux-Devtek Inc. (TSX : HRX) a leading Canadian manufacturer of aerospace and industrial products, today announced that its Landing Gear Division has renewed an important multi-year contract with Goodrich Corporation - Landing Gear to manufacture various landing gear components for a number of important large commercial aircraft programs.
Under the terms of the agreement, the Landing Gear Division will fabricate and deliver major landing gear components to be used in the production of new aircraft and for aftermarket applications. The renewal extends Héroux-Devtek's current agreement with Goodrich to the end of calendar year 2012.
"We are very pleased to renew this important, longstanding contract, which speaks highly about the strength of our relationships with major aerospace companies around the world," said Gilles Labbé, President and CEO of Héroux-Devtek. "Through its solid reputation for quality products and services, the diversity of its expertise, as well as its healthy balance sheet, Héroux-Devtek is increasingly recognized as a leading strategic partner for manufacturing solutions across its main markets. This important contract will also contribute to maintain stable workload throughout our Landing Gear Division."
"Heroux-Devtek is a key part of our supply base with their complex component manufacturing capabilities," noted Mike Brand, President of Goodrich Landing Gear.
Héroux-Devtek (TSX: HRX), a Canadian company, serves two main market segments: Aerospace and Industrial Products, specializing in the design, development, manufacture and repair and overhaul of related systems and components. Héroux-Devtek supplies both the commercial and military sectors of the Aerospace segment with landing gear systems (including spare parts, repair and overhaul services) and airframe structural components. The Company also supplies the industrial segment with large components for power generation equipment and precision components for other industrial applications. Approximately 65% of the Company's sales are outside Canada, mainly in the United States. The Company's head office is located in Longueuil, Québec with facilities in the Greater Montreal area (Longueuil, Dorval, Laval and Rivière-des-Prairies); Kitchener and Toronto, Ontario; Arlington, Texas and Cincinnati, 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 Company. 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 Company'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: For further information: Héroux-Devtek Inc.: Gilles Labbé, President and Chief Executive Officer, (450) 679-3330; MaisonBrison: Martin Goulet, CFA, (514) 731-0000