Manufacturing Complete Landing Gear Shipsets Contract for Hawk Aircraft

Héroux-Devtek Inc. (TSX:HRX) ("Héroux-Devtek" or the "Corporation"), a leading international manufacturer of aerospace products, today announced that it has signed a contract with UK-based BAE Systems for the production of complete landing gear shipsets for the Hawk advanced jet trainer aircraft.

Under the terms of the agreement, Héroux-Devtek will manufacture and assemble complete landing gear replacement shipsets and hydraulic actuators to be delivered to BAE Systems. The shipsets will be installed on the fleet of an export Hawk customer as part of their planned aircraft maintenance program. These new replacement shipsets will help allow that customer to significantly extend the service life of the aircraft.

The value of the contract is estimated at approximately $11.0 million, based on current exchange rates. Deliveries are expected to begin in early calendar 2018 and extend through approximately mid-calendar 2019.

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"The Hawk is an important, longstanding program for Héroux-Devtek's UK operations. We designed the landing gear for the aircraft and this contract highlights the extent over which revenues from life-cycle design programs can be earned. We are pleased to continue providing high-quality systems and components to leading OEMs of the global aerospace industry and aircraft operators," said Martin Brassard, Vice-President and Chief Operating Officer of Héroux-Devtek.

The Hawk is the world's leading advanced jet trainer with over 1,000 aircraft sold to 18 nations around the world.

Source: Heroux-Devtek Inc.
Date: Nov 10, 2016