Héroux-Devtek Inc. (TSX:HRX) ("Héroux-Devtek" or the "Corporation"), a leading international manufacturer of aerospace products, today announced that it has extended a preferred supplier agreement with a leading aerospace systems manufacturer. The extension spans a five-year period through the end of calendar year 2023.
The strategic agreement is accompanied by orders to manufacture major, complex landing gear components for three large commercial aircraft programs. Based on current expectations for these three programs, the total value of this multi-year agreement could reach up to $100 million. Production will be mainly carried out at the Corporation's facilities located in Kitchener, Ontario and Laval, Québec.
"Héroux-Devtek is excited to further extend this important agreement which underlines its longstanding relationship with one of the world's leading aerospace companies. Reflecting a commitment to constantly invest in ultra-modern and highly-automated equipment, Héroux-Devtek has established a solid reputation as a world-class provider of high-quality, value-added landing gear components to leading global aerospace companies. We are looking forward to continue our partnership with this important customer and to jointly benefit from the strong order books for these important programs," said Martin Brassard, Vice-President and Chief Operating Officer of Héroux-Devtek.
Key data points: The growth forecast = 4.0% annually for the next 7 years. Scroll below to get more insights. This market report covers Trends, opportunity and forecast in supersonic business jet market to 2031 by type (type I and type II), application (commercial and household), and region (North America, Europe, Asia Pacific, and the Rest of the World)
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