The Corporation also delivers its first Chinook complete landing gear
LONGUEUIL, QC, Sept. 24, 2012 /CNW Telbec/ - Héroux-Devtek Inc. (TSX: HRX) a leading Canadian manufacturer of aerospace products, today announced that its Landing Gear products operations have received a license from The Boeing Company (NYSE: BA) to service the H-47 Chinook aircraft landing gear in nearly a dozen countries.
The license makes Héroux-Devtek eligible to offer its services to fabricate replacement parts and carry out repair and overhaul (R&O) services for the landing gear of all variants of Chinook aircraft. The agreement also includes option renewal periods beyond the initial five-year period.
"This new license further enhances Héroux-Devtek's global reach and confirms its reputation as a leading provider of high-quality landing gear aftermarket products and services," said Gilles Labbé, President and CEO of Héroux-Devtek. "In addition to generating recurring revenues throughout the life of the program, the license will also allow Héroux-Devtek to maintain an optimal balance between new component manufacturing and aftermarket services. We are delighted to broaden our longstanding relationship with Boeing and our participation on the H-47 program, and we are pleased to support the Chinook fleet operated by customers around the world."
Héroux-Devtek also delivered its first H-47F complete landing gear to Boeing. Héroux-Devtek's Landing Gear products operations is under contract from Boeing to fabricate, assemble, test and deliver the landing gear for H-47F aircraft delivered to customers outside the United States.
"Héroux-Devtek manufactured the first Chinook complete landing gear for Boeing on schedule," said Steve Parker, Boeing director, Canada CH-147F Medium-to-Heavy Lift Helicopter program. "The Chinook is the backbone of heavy-lift helicopter fleets around the world. As the Canadian program continues to gain momentum, we look forward to continuing to expand our relationships with reliable partners."
The H-47F Chinook is a multi-mission, heavy-lift transport helicopter. Its primary mission is to move troops, artillery, ammunition, fuel, water, barrier materials, supplies and equipment on the battlefield. Its secondary missions include medical evacuation, disaster relief, search and rescue, aircraft recovery, fire fighting, parachute drops, heavy construction and civil development. The family of Chinook aircraft has been in U.S. Army service since 1962. In addition, Chinooks are operated or have been selected by nearly 20 international defense forces.
Héroux-Devtek's Chinook landing gear contract and the new licensing agreement are in line with Canada's Industrial & Regional Benefits (IRB) policy and are integral parts of Boeing's IRB programs in Canada. Canada's IRB policy requires prime contractors such as Boeing to make investments in the Canadian economy as a result of winning defense and security contracts with the Government of Canada. Boeing has four active IRB programs tied to the purchase and sustainment of four C-17 airlifters - designated CC-177 for Canadian Forces; the procurement of ScanEagle unmanned aircraft systems services; the purchase and sustainment of 15 CH-47F Chinook medium-to-heavy-lift rotorcraft - designated CH-147 for Canadian Forces; and the Mercury Global program. Through these programs, Boeing continues a history of more than 90 years of creating long-term, high-value opportunities with Canadian industry. See www.boeing.ca.
About Héroux-Devtek Inc.
Héroux-Devtek Inc. (TSX: HRX) is a Canadian company specializing in the design, development, manufacture and repair and overhaul of landing gear systems and components for the Aerospace market. The Corporation is the third largest landing gear company in the world, 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. Approximately 70% of the Corporation's sales are outside Canada, mainly 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; as well as Springfield and Cleveland, 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: HEROUX-DEVTEK INC.
For further information:
President and Chief Executive Officer
Tel.: (450) 679-3330
Martin Goulet, CFA
Tel.: (514) 731-0000