Landing gear assembly orders part of Industrial Regional Benefits for Québec
LONGUEUIL, QC, March 25 /CNW Telbec/ - Héroux-Devtek Inc. (TSX : HRX) a leading Canadian manufacturer of aerospace and industrial products, today announced that its funded backlog includes orders totalling approximately $25 million in landing gear assemblies for the C-130J Super Hercules aircraft. Production is carried out at the Longueuil facility and deliveries will be spread out to September 2012.
The orders, awarded by Lockheed Martin Aeronautics Company, are part of the Canadian Industrial Regional Benefits Policy in connection with the purchase, in December 2007, of 17 C-130J aircraft by the Government of Canada. These aircraft are known as CC-130J for the Canadian Forces.
"Héroux-Devtek has been actively involved on the program for over 25 years and has been a highly reliable supplier of new C-130J landing gears to Lockheed Martin for nearly 15 years," said Gilles Labbé, President and Chief Executive Officer of Héroux-Devtek. "The C-130 is now the longest continuous military production program in history and we are proud to further contribute to its durable success with orders that confirm our status as a leading provider of high-quality landing gear products and services. Héroux-Devtek's involvement with Lockheed Martin on other strategic programs, such as the F-35 Joint Strike Fighter and the F-16, speaks highly about the solid and longstanding business relationship between our two organizations."
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