Héroux-Devtek's Laval Landing Gear Products Employees Ratify Four-Year Agreement
Dec 19, 2013, 08:30 ET
LONGUEUIL, QC, Dec. 19, 2013 /CNW Telbec/ - Héroux-Devtek Inc. (TSX: HRX), ("Héroux-Devtek" or the "Corporation" http://www.herouxdevtek.com), a leading Canadian manufacturer of aerospace products, today announced that its 110 unionized Landing Gear products employees at the Laval, Québec facility have agreed to an advanced four-year extension to the current collective agreement, which now extends through December 31, 2018. The workers concerned are members of the International Association of Machinists and Aerospace Workers, Local 1758, affiliated with District 11 (FTQ).
"We are pleased that our employees have once again shared our vision in further building our Laval Center of Excellence, specialized in manufacturing small and medium size complex components for landing gear systems. The changes agreed to as part of this new labour agreement will make our Laval site more productive and competitive and will allow Héroux-Devtek to proceed with new investments in state-of-the-art automated systems and equipment," declared Gilles Labbé, President and Chief Executive Officer of Héroux-Devtek.
Certain complex components for the Boeing 777 contract awarded to Héroux-Devtek will be manufactured at the Laval facility following these investments in new systems and equipment.
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 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. 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 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:
President and Chief Executive Officer
Martin Goulet, CFA
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