LONGUEUIL, QC, Nov. 21, 2014 /CNW Telbec/ - Héroux-Devtek Inc. (TSX: HRX), ("Héroux-Devtek" or the "Corporation"), a leading Canadian manufacturer of aerospace products, today announced the nomination of Mr. Martin Brassard as Vice-President and Chief Operating Officer of Héroux-Devtek. His nomination is effective immediately. Mr. Gilles Labbé remains President and Chief Executive Officer of Héroux-Devtek.
Martin Brassard joined the Corporation in 1994 and has been Vice-President, General Manager, Landing Gear since June 2005. He had previously occupied the positions of Vice-President, Control and Information Technology (1998-2005), Project Manager for the implementation of an Enterprise Resource Planning (ERP) software (1997-1998) and Controller (1994-1997). Mr. Brassard holds a Bachelor of Commerce from Université du Québec in Trois-Rivières as well as the professional designations of Chartered Professional Accountant (CPA) and Chartered Accountant (CA).
"Héroux-Devtek is proud to announce this nomination which highlights Martin Brassard's strong skills as a manager and a leader. Over the course of his 20-year career with the Corporation, Martin has acquired a comprehensive knowledge of our business sector and its strategic interests, while developing productive relationships with our customers, employees and numerous partners. Héroux-Devtek's Board of Directors is entirely confident that his talents will contribute to further enhancing our leading position in the landing gear market. In my role as Chief Executive Officer, I remain fully committed to elaborating our strategic plan, developing our network and expanding Héroux-Devtek's reach in the global aerospace industry," said Gilles Labbé, President and Chief Executive Officer of Héroux-Devtek.
"I am grateful to Gilles and for the Board of Directors' confidence, as Héroux-Devtek is entering the most exciting period in its history. The entire organization is committed to reaching our objective of achieving annual sales of $500 million within the next five years, based on existing contracts and assuming no other acquisitions. Key to this success, and our leading priority, is the rigorous execution of Héroux-Devtek's largest landing-gear contract ever to supply complete landing gear systems for the B-777 and B-777X aircraft, while maintaining for all our customers the service level on which we have built our reputation," added Martin Brassard, Vice-President and Chief Operating Officer of Héroux-Devtek.
Héroux-Devtek Inc. (TSX: HRX) is a Canadian company specializing in the design, development, manufacture and repair and overhaul of landing gear and actuation 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. On a pro forma basis, approximately 75% of the Corporation's sales are outside Canada, including 50% 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; Springfield and Cleveland, Ohio; Wichita, Kansas; and Runcorn, Nottingham and Bolton, United Kingdom.
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: From: Héroux-Devtek Inc., Gilles Labbé, President and Chief Executive Officer, Tel.: (450) 679-3330; Contact: MaisonBrison, Martin Goulet, CFA, Tel.: (514) 731-0000