Heroux-Devtek obtains $35 million in new contracts for landing gear components and sub-assemblies

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 several contracts to manufacture components and assemblies for commercial and military aircraft. Héroux-Devtek estimates the value of the various contracts at approximately $35 million.

First, the Boeing Company awarded a contract to provide actuator assemblies supporting the B-777 program. Under the terms of the contract, Héroux-Devtek will manufacture, assemble, test and deliver the landing gear retract actuators for new aircraft production and spare parts requirements. Deliveries are scheduled to begin early in calendar 2013, coinciding approximately with the second production rate increase on the B-777 program, following an initial increase in mid-2011.

Second, Heroux-Devtek received orders to fabricate landing gear components for various military aircraft programs. These orders, essentially from the US Air Force and US Navy, are mainly for the F-15, F-16 and P-3 aircraft. Deliveries will begin in fiscal year 2012 and will be spread over a four-year period.

"The contract with Boeing further confirms Héroux-Devtek as a major player in the landing gear industry and increases our exposure to a well-established and growing program. More importantly, it reaffirms the strength of our manufacturing team as well as its ability to provide value-added complete assemblies to OEM manufacturers," said Martin Brassard, Vice-President and General Manager of Héroux-Devtek's Landing Gear product line.

"Héroux-Devtek continues to prove its status as a landing gear supplier of choice for both commercial and military aircraft programs. These contracts clearly demonstrate the expertise and market recognition we have gained over the years. For instance, Boeing has requirements that few companies can meet and we are proud that it recognizes Héroux-Devtek as a qualified supplier," added Gilles Labbé, President and Chief Executive Officer of Héroux-Devtek.