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Press release from CNW Group

Héroux-Devtek renews an important landing gear repair and overhaul contract with the U.S. Air Force

Wednesday, July 18, 2012

Héroux-Devtek renews an important landing gear repair and overhaul contract with the U.S. Air Force08:30 EDT Wednesday, July 18, 2012Four-year agreement valued at up to $90 millionLONGUEUIL, QC, July 18, 2012 /CNW Telbec/ - Héroux-Devtek Inc. (TSX: HRX), a leading Canadian manufacturer of aerospace and industrial products, today announced that its Landing Gear Products operations have renewed an important long-term contract with the U.S. Air Force (USAF) to provide landing gear repair and overhaul (R&O) services for the C-130, E-3 and KC-135R aircraft.The contract is for a definite four-year term, extending to August 2016. Based on the Corporation's expectations, the contract is valued at up to $90 million. Under the terms of the agreement, Héroux-Devtek is also responsible for the manufacturing and delivery of aftermarket components for these aircraft."With this important long-term contract, Héroux-Devtek further confirms its status as a world leader in the R&O market for military aircraft landing gear," said President and CEO Gilles Labbé. "We have a longstanding relationship with the USAF, for which we have been providing R&O services for over 40 years. More importantly, we have a proven track record for quality, on-time delivery and second-to-none customer service. This contract also highlights the diversity of our business activity in the military aerospace market through our participation on many leading programs, as well as by our involvement in both new component manufacturing and aftermarket products and services."PROFILEHéroux-Devtek Inc. (TSX: HRX), a Canadian company, serves two main market segments: Aerospace and Industrial Products, specializing in the design, development, manufacture and repair and overhaul of related systems and components. Héroux-Devtek Inc. supplies both the commercial and military sectors of the Aerospace segment with landing gear systems (including spare parts, repair and overhaul services) and airframe structural components. The Corporation also supplies the industrial segment with large components for power generation equipment and precision components for other industrial applications. Approximately 70% of the Corporation's sales are outside Canada, mainly in the United States. The Corporation's head office is located in Longueuil, Québec with facilities in the Greater Montreal area (Longueuil, Dorval, Laval and St-Hubert); Kitchener and Toronto, Ontario; Arlington, Texas; Springfield, Cleveland and Cincinnati, Ohio, as well as Querétaro, Mexico.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.For further information: From:Héroux-Devtek Inc. Gilles Labbé President and Chief Executive Officer Tel.: (450) 679-3330 Contact: MaisonBrison Martin Goulet, CFA Tel.: (514) 731-0000