Heroux-Devtek obtains another multi-year contract for the F-35 Lightning II - agreement covering electronic chassis components worth over Cdn$10 million

Héroux-Devtek Inc. (TSX:HRX), a leading Canadian manufacturer of aerospace and industrial products, today announced that Noranco Inc. has awarded the Aerostructure Division of Héroux-Devtek (Magtron), a multi-year contract related to electronic chassis components for the F-35 Lightning II aircraft (Joint Strike Fighter).

Under the terms of the agreement, Magtron, located in Toronto, Ontario, will perform operations, including brazing, heat treatment, and testing of complex avionic housings for all three F-35 variants over the next eight years. The F-35 aircraft quantity will ramp up throughout this period, with production rates currently planned to exceed 200 aircraft per year near the end of this contract. This contract begins in calendar 2010 and continues through 2017. Based on best estimated quantity production rates, the value of the contract is estimated to be in excess of Cdn$10 million.

As part of the agreement, Magtron will become Nadcap certified for the various processes involved in the manufacture of the Noranco products. Nadcap is the leading, worldwide cooperative program of major companies designed to manage a cost effective consensus approach to special processes and products and provide continual improvement within the aerospace industry. Nadcap is the Performance Review Institute's (PRI) brand name for the industry-managed program for special processes in the aerospace industry. "

Héroux-Devtek is very excited to see Magtron participate in the F-35 program, as this contract expands our reach across all three sites of our Aerostructure Division," said Gilles Labbé, President and Chief Executive Officer of Héroux-Devtek. "The selection of Héroux-Devtek for these critical components shows the confidence of Noranco in our technical ability, quality, and delivery. Our dedicated investment in Nadcap certification and new technology targeted at highly specialized, bonded machined products was instrumental in winning this contract."