LONGUEUIL, QC, Sept. 26 /CNW Telbec/ - Héroux-Devtek Inc. (HRX-TSX)
("Héroux" or the "Company") today announced that Héroux, the selling
shareholders and GMP Securities L.P. on behalf of the underwriters have
mutually agreed not to proceed with the previously announced bought deal
offering of 3,000,000 treasury common shares by the Company and the 2,600,000
secondary offering of common shares by the selling shareholders, and have
therefore terminated their respective obligations under the Bought Deal Letter
entered into on September 19, 2007, as confirmed on September 20, 2007, and
withdrawn the offerings.
The Company's order commitments are solid and it remains confident that
its business activities should pursue their positive trends and achieve an
internal sales growth of approximately 10% for the full current fiscal year,
as previously announced. In due course, the Company will reassess its market
opportunities as they arise.
Héroux-Devtek (HRX-TSX), 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 Scarborough, Ontario; Arlington, Texas
and Cincinnati, Ohio.
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.
For further information:
For further information: Martin Goulet, CFA, MaisonBrison, (514)