NAVAIR Public Release SPR 2018-579. Distribution Statement A - Approved for public release; distribution is unlimited.

FARNBOROUGH, UK, July 17, 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 selected by The Boeing Company to manufacture the F/A-18 Super Hornet and EA-18G Growler main landing gear and side braces.    

Héroux-Devtek will manufacture and assemble the main landing gear and side braces for all the Boeing requirements involving new production and spare parts, with first deliveries in third quarter of 2020.

“We are very pleased to have been selected to build the F/A-18 main landing gear and side braces. It attests our growing relationship with Boeing and represents a significant win for our defence activities,” said Héroux-Devtek President & CEO, Gilles Labbé. “The selection also includes potential spare parts and after market services, which will further add to the value of the business.”

“This new F/A-18 work for Héroux-Devtek reaffirms Boeing’s commitment to Canadian industry for nearly 100 years. This work supports our business needs as the U.S. Navy continues to make significant investments in the Block III Super Hornet, relying on it to be the frontline fighter of its carrier air wing for decades to come,” said Karl Jeppesen, vice president of Supplier Management for Boeing Defense, Space and Security.

Boeing will deliver the F/A-18 off its production line in the coming years at a rate of two per month with the U.S. President’s Fiscal Year 2018 Budget Request. International and additional opportunities could extend the line further. The U.S. Navy’s F/A-18 Super Hornet and EA-18G Growler fleet is composed of about 700 aircraft.

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 ballscrews, 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.