Source: DTN News / By The Canadian Press
(NSI News Source Info) MONTREAL, Canada - May 18, 2010: Canadian aerospace manufacturer Heroux-Devtek Inc. has landed $16 million in new contracts from the U.S. air force and navy for landing gear components.The orders are mainly for five aircraft, including the B-1B, C-130 Hercules transport, C-5 transport and P-3 surveillance planes.Production will be spread out over the next four years, with deliveries starting in fiscal year 2011.
The Montreal-area company (TSX: HRX.TO) said Tuesday the orders demonstrate the strength of the military aerospace market.
Chief executive Gilles Labbe said "is a major constituent of our ability to efficiently service the needs of the global military aerospace market."
Heroux-Devtek's aerospace segments supplies the commercial and military sectors with landing gear systems and airframe structural components. About 65 per cent of the company's sales are outside Canada, mainly in the United States.
The company also has an industrial products segment that makes large power generation components.
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