Héroux-Devtek Receives $16.4 Million in New Military Orders

Oct. 14, 2010
Production will be spread out over the next four years, with deliveries beginning in the current fiscal year, ending March 31, 2011

LONGUEUIL, QC, Oct. 14 /CNW Telbec/ - Héroux-Devtek Inc. (TSX : HRX) a leading Canadian manufacturer of aerospace and industrial products, today announced that its Landing Gear product line operations have been awarded additional orders for the manufacturing of landing gear components. These orders, essentially from the U.S. Air Force, are mainly for the B-1B, C-130, C-5 and F-15 aircraft.

The combined value of the contracts is approximately Cdn$16.4 million, a majority of which was obtained by newly-acquired Eagle Tool in Ohio. Production will be spread out over the next four years, with deliveries beginning in the current fiscal year, ending March 31, 2011.

"These contracts further demonstrate Héroux-Devtek's leading position in the production of landing gear components for military aircraft," said Gilles Labbé, President and CEO of Héroux-Devtek. "We are very pleased that most contracts were won by our new U.S. operations, thereby validating the highly-strategic nature of this acquisition and confirming our greater share of the landing gear market. The military aerospace remains robust, as proven by more than $32 million in new orders obtained since the start of the current fiscal year, and our expanded North American plant network favourably positions Héroux-Devtek to benefit from business opportunities that may arise."

Profile

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 70% 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 and Laval); Kitchener and Toronto, Ontario; Arlington, Texas; as well as Springfield, Cleveland and Cincinnati, Ohio.