Héroux-Devtek is awarded renewal of multi-year contract in excess of $110 million for structural detail components

Héroux-Devtek Inc. (TSX: HRX), a leading Canadian manufacturer of aerospace and industrial products, today announced that its Aerostructure Division was awarded, by Bombardier Aerospace, a five year contract to manufacture structural detail components that encompass Bombardier's entire portfolio of Regional and Business aircraft. The agreement, which extends and broadens the current mandate, represents the single largest contract from Bombardier in Héroux-Devtek's 65 year history.

Under the terms of the agreement, Héroux-Devtek will fabricate, assemble and deliver over 200 structural detail components such as spars, ribs, frame and engine mounts, spanning Bombardier's range of regional and business aircraft. This contract is effective immediately and continues through December 2012 with a relatively consistent revenue stream through the entire period. At current aircraft production rates, the value of this contract is estimated at over Cdn$110 million.

"This significant contract underlines the commitment of our people, our Dorval facility's leadership team, and the entire Héroux-Devtek organization which has made significant investments in state-of-the-art machining technology at the Dorval site," said Rick Rosenjack, Vice-President and General Manager of Héroux-Devtek's Aerostructure Division. "We are excited that Bombardier has chosen to grow with our Aerostructure Division."

"Bombardier has a world-class portfolio of aircraft and we are pleased to be recognized, through this agreement, as a key part of their long term success," stated Gilles Labbé, President and Chief Executive Officer of Héroux-Devtek. "Héroux-Devtek and Bombardier Aerospace have enjoyed a long-term relationship and have worked diligently together to further build our association. This latest agreement is a testament to the strength of our business relationship with Bombardier and to the mutual respect and trust that the two organizations enjoy."

"Participation in several joint strategic initiatives with Bombardier has ascertained Héroux-Devtek's position as a supplier of choice for Bombardier," said Marie-Helene Pelletier, Director, Supply Chain, Bombardier Aerospace. "By establishing a collaborative relationship, Héroux-Devtek has positioned itself as a trusted source for structural detail components. Bombardier looks forward to working closely with Héroux-Devtek," Mrs. Pelletier added.