LONGUEUIL, QUÉBEC--(Marketwired - Sept. 30, 2015) - Héroux-Devtek Inc. (TSX:HRX) ("Héroux-Devtek" or the "Corporation"), a leading international manufacturer of aerospace products, today announced that it has been awarded a long-term contract by The Boeing Company ("Boeing") to provide actuator assemblies for the 777 and 777X programs.
Under the terms of the agreement, Héroux-Devtek will manufacture, assemble, test and deliver the landing gear retract actuator for new aircraft production and spare parts requirements. The contract period begins January 2017 and broadens the scope of an existing agreement to include the 777X. Héroux-Devtek will also provide Boeing with engineering support in the development and qualification of the main landing gear retract actuator for the 777X.
The 777 is the world's most successful twin-engine, long-haul airplane. As at June 30, 2015, the program had received 1,876 orders from approximately 70 global customers, while the backlog stood at 563 aircraft, including 306 777X.
"Héroux-Devtek is delighted to further expand its reach on the 777 and 777X program. This multi-year agreement also enhances our relationship with Boeing through the support of our world-class engineering team on the development of a new actuation system. We are looking forward to once again demonstrate our proven ability to offer value-added, integrated products and services to leading OEMs of the global aerospace industry," said Gilles Labbé, President and Chief Executive Officer of Héroux-Devtek.
PROFILE
Héroux-Devtek Inc. (TSX:HRX) is an international company specializing in the design, development, manufacture and repair and overhaul of landing gear and actuation systems and components for the Aerospace market. The Corporation is the third largest landing gear company worldwide, supplying both the commercial and defence sectors of the Aerospace market with new landing gear systems and components, as well as aftermarket products and services. The Corporation also manufactures hydraulic systems, fluid filtration systems and electronic enclosures. Approximately 75% of the Corporation's sales are outside Canada, including about 50% in the United States. The Corporation's head office is located in Longueuil, Québec with facilities in the Greater Montreal area (Longueuil, Laval and St-Hubert); Kitchener, Cambridge and Toronto, Ontario; Springfield and Strongsville, Ohio; Wichita, Kansas; Everett, Washington; and Runcorn, Nottingham and Bolton, United Kingdom.
FORWARD-LOOKING STATEMENTS
Except for historical information provided herein, this press release may contain information and statements of a forward-looking nature concerning the future performance of the Corporation. These statements are based on suppositions and uncertainties as well as on management's best possible evaluation of future events. Such factors may include, without excluding other considerations, fluctuations in quarterly results, evolution in customer demand for the Corporation's products and services, the impact of price pressures exerted by competitors, and general market trends or economic changes. As a result, readers are advised that actual results may differ from expected results.