Orders further confirm strength of military aerospace market
LONGUEUIL, QC, May 18 /CNW Telbec/ - Héroux-Devtek Inc. (TSX : HRX) a leading Canadian manufacturer of aerospace and industrial products, today announced that its Landing Gear Division has been awarded additional orders for the manufacturing of landing gear components. These orders, essentially from the US Air Force and US Navy, are mainly for the B-1B, C-130, C-5, KC-135R and P-3 aircraft. Production will be spread out over the next four years, with deliveries starting in fiscal year 2011. The combined value of the contracts is approximately Cdn$16 million.
"These contracts expressively highlight the strength of the military aerospace market," mentioned Gilles Labbé, President and CEO of Héroux-Devtek. "Through superior product quality, on-time deliveries and excellent customer service, Héroux-Devtek is increasingly recognized as an important supplier for both military forces and leading OEMs. Our proven track record on a wide-range of aircraft programs, as well as for both new components and aftermarket services, is a major constituent of our ability to efficiently service the needs of the global military aerospace market."
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; as well as Springfield, Cleveland 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