FARNBOROUGH, United Kingdom, July 16 /CNW Telbec/ - Héroux-Devtek Inc.
(TSX : HRX) a leading Canadian manufacturer of aerospace and industrial
products, today announced that its Aerostructure Division has signed a letter
of agreement with Bell Helicopter Textron. This letter of agreement is
accompanied by orders to manufacture primary structural components for the new
Bell Helicopter 429, such as cabin, cockpit and aft fuselage components and
The letter of agreement covers a period up to 2015 and the value of
potential orders over that period is currently estimated in stated Canadian
currency at about $57 million. In order to qualify for the production of these
highly-complex components, Héroux-Devtek's Aerostructure facility in Dorval,
Quebec, was accredited as an approved supplier to Bell Helicopter and
successfully carried out pre-production parts throughout the fiscal year ended
March 31, 2008.
"Héroux-Devtek is pleased to demonstrate its ability and commitment to
support Bell Helicopter's new commercial helicopter program. This first
agreement with Bell Helicopter for the Aerostructure Division further
validates our strategic decision to invest in highly-automated,
state-of-the-art equipment to expand our capacity for complex structural
components and sub-assemblies," said Gilles Labbé, President and Chief
Executive Officer of Héroux-Devtek.
This letter of agreement is in addition to a previously-signed agreement
between the Landing Gear Division and Bell Helicopter on the 429 program for
flight critical components. This previous agreement included firm commitments
totalling $8 million to deliver components until the end of 2011.
"Bell Helicopter is a very important player in the industry and this
letter of agreement further strengthens our relationship," further stated
Mr. Labbé, President and Chief Executive Officer. "This mandate demonstrates
Héroux-Devtek's competitiveness, while further solidifying its reputation. We
look forward to performing the high-value-added work on this new strategic
program and to broadening the scope of our service and product offering to
Jacques St-Laurent, President, Bell Helicopter Textron Canada,
emphasized: "We value suppliers and partners on their abilities to deliver
quality parts, on time and at a competitive price. We have found such a
supplier with Héroux-Devtek."
Mary Simmerman, Senior Vice-President Supply Chain Management for Bell
Helicopter Textron Inc. added: "Bell Helicopter is highly confident of
Héroux-Devtek's specialized abilities and is tasking them with the fabrication
of key structural and dynamic components for our newest commercial helicopter
the Bell 429 Global Ranger."
Héroux-Devtek (TSX: HRX), a Canadian company, serves two main market
segments: Aerospace and Industrial Products, specializing in the design,
development, manufacture and repair 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 70% 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
About Bell Helicopter
Bell Helicopter is an industry-leading producer of commercial and
military, manned and unmanned vertical lift aircraft and the pioneer of the
revolutionary tilt rotor aircraft. Globally recognized for world-class
customer service, innovation and superior quality, Bell's global workforce
serves customers flying Bell aircraft in more than 120 countries.
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
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; Bell Helicopter Textron Canada Limited: Michel Legault,
Director, Business Development, (450) 971-6500 ext 6027