Héroux-Devtek Announces Multi-Year Contract to Ma

Five-year agreement with Lockheed Martin to start in 2020

FARNBOROUGH, United Kingdom, July 18, 2018 (GLOBE NEWSWIRE) -- 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 five-year contract by Lockheed Martin Aeronautics Company to manufacture the landing gear for the C-130J Super Hercules aircraft.    

Under the terms of the agreement, Héroux-Devtek will manufacture and assemble the landing gear for Lockheed Martin's global production of the C-130J aircraft and provide spare parts over a five-year period beginning in January 2020.

“Héroux-Devtek is proud to support Lockheed Martin by further contributing to the longest continuous military production program in history,” said Gilles Labbé, President and CEO of Héroux-Devtek. “We have been actively involved in this highly successful program for more than 30 years, which allowed us to showcase our expertise as a reliable manufacturer of C-130J landing gear and be recognized for our solid performance, high-quality products and on-time deliveries. This contract renewal is once again a testament to our leadership in the military landing gear market.”

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 90% of the Corporation's sales are outside Canada, including about 65% 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; Livonia, Michigan; and Runcorn, Nottingham and Bolton, United Kingdom.

FORWARD-LOOKING STATEMENTS
Except for historical information provided herein, this press release contains information and statements of a forward-looking nature concerning the future performance of the Corporation. Forward looking statements are based on assumptions 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. Please see the Guidance section in the Corporation’s MD&A for the fiscal year ended March 31, 2018, for further details regarding the material assumptions underlying the forecasts and guidance. Such forecasts and guidance are provided for the purpose of assisting the reader in understanding the Corporation’s financial performance and prospects and to present management’s assessment of future plans and operations, and the reader is cautioned that such statements may not be appropriate for other purposes.