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Héroux-Devtek signs multi-year F-35 Lightning II contract with Lockheed Martin - Initial 5 year phase could reach up to CDN$135 million

Héroux-Devtek Inc. (TSX: HRX), a leading Canadian manufacturer of aerospace and industrial products, today announced that its Aerostructure Division has been awarded a long-term contract from Lockheed Martin Aeronautics Company (LM Aero) to manufacture structural components for the F-35 Lightning II Joint Strike Fighter (JSF) during the Low Rate Initial Production (LRIP) phase of the program. The JSF program is considered to be the largest ongoing military program over the next

20 years.

The agreement, signed between LM Aero and Progressive Incorporated, Héroux Devtek's business unit in Arlington, Texas, covers wingbox parts and inner wing bulkheads for all three F-35 variants - STOVL (Short Take-Off and Vertical Landing), CTOL (Conventional Take-Off and Landing), and CV (Carrier Version). Under the first phase of the agreement, Progressive will produce components for the first five years of the program (LRIP lots 1 through 5), with deliveries gradually ramping up over the five year period. Progressive's total revenues over the first five years of the agreement could be up to CDN$135 million. As previously announced, Progressive began delivery of these

components during the third quarter of fiscal 2007 for the Systems Demonstration and Development (SDD) phase of the program.

The second phase of the agreement, to last until 2028, will provide Progressive with continued business beyond the first five years of the program at a share of approximately 50% of the annual production rate. Both phases of the agreement are contingent upon customary performance clauses, and are subject to government funding for the F-35 program.

"This long-term contract is a clear testament to the strong relationship we have with Lockheed Martin Aeronautics and of their confidence in Héroux-Devtek's ability to deliver on this crucial assignment," stated Gilles Labbé, CEO of Héroux-Devtek. "We look forward to working with them as part of their dynamic team for many years to come."

"Our success in winning this significant contract is due to the dedication and technical competence of the combined forces of LM Aero and

Progressive's employees. This teamwork, so clearly demonstrated in the development stage by all employees involved, provides an excellent foundation for consistent quality service to Lockheed Martin," stated Rick Rosenjack, Vice-President and General Manager of Héroux-Devtek's Aerostructure Division. "I have no doubt that this team will continue to produce exceptional results

in the production phase of the program."

n preparation for this added business, Progressive has already broken ground for a new, state-of-the-art manufacturing facility in Arlington, Texas. The first phase of the program represents a CDN$20 million investment in plant and equipment and will span 72,000 square feet. There are already plans for an additional 48,000 square feet as the F-35 production rate increases above the

initial capacity of 50 shipsets per year. Manufacturing operations in the new facility will begin in the summer of 2007.

Press release issued by Heroux Devtek Inc. on March 28, 2007


 Contact details from our directory:
Heroux Devtek Inc. Aircraft Landing Gear, Hydraulic Actuators, Rotor Hub Assemblies, Torque Tube Drives, Aircraft Structural Components, Engine Parts, Wings, Fuselage Sections, Helicopter Landing Gear, Avionics Racks, Mechanical Actuators
Lockheed Martin Aeronautics Company Airframer


 Related aircraft programs:
Lockheed Martin F-35 Lightning II


 Related directory sectors:
Structural Components

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