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Héroux-Devtek

Company nameHéroux-Devtek Inc.
Company typePublic (Tsx - HRX)
IndustryAerospace
Founded1942
Founder(s)Eugène Héroux
HeadquartersLongueuil, Quebec
Key peopleGilles Labbe
ProductsAerospace Products
Employees1220
DivisionsLanding Gear, Aerostructure, Gas Turbine
SubsidiaryDevtek Aerospace Inc, Devtek Corporation, Héroux Corporation, Héroux-Devtek Aerostructure Inc, Les Industries C.A.T. Inc, McSwain Manufacturing Corporation (U.S.A.), Metro Machining Corporation, Progressive Incorporated (U.S.A.)

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Héroux-Devtek Inc. specializes in the design, development, manufacture and repair of aerospace and industrial products.

HISTORY: MAJOR MILESTONES OF THE COMPANY

1942 Company established as Héroux Machine Parts Limited in Longueuil, Québec specializing in machine tooling of aircraft components.

1960 Héroux begins design and manufacturing of landing gear components.

1969 Héroux manufactures landing gear for the Apollo Lunar Module.

1986 After an initial public offering (IPO), Héroux's share became publicly traded in Canada.

1987 Company purchases McSwain Manufacturing Corporation and creates its Gas turbine components Division

1999 Company purchases Métro Machining Corporation and Les Industries C.A.T. inc and creates its Aerostructures Division.

2000 Acquisition of Devtek Corporation.

Change of corporate name to Héroux-Devtek Inc.

2004 Acquisition of Progressive Inc.

2010 Acquisition of Eagle Tool and E2.

HISTORY

The Company commenced operations in 1942 in a small plant in the Montréal suburb of Longueuil where it manufactured machined parts for a variety of military purposes. It began to specialize in the aeronautical industry in the 1950s. During the 1960s, the Company designed, developed and manufactured servomechanisms and the landing gear for the CL-215 water bomber built by Canadair Limited and for the DHC-6 Twin Otter built by De Havilland (both now divisions of Bombardier Inc.). During this period, the Company was fortunate to be awarded the contract to manufacture the landing gear for the Apollo Lunar Module and by doing so, become an active and ciritical participant to this extraordinary voyage to the Moon.

In June 1985, all of the Company's outstanding shares held since 1973 by Bombardier Inc., were acquired by Mr. Sarto Richer and Mr. Gilles Labbé, both senior executives of the Company.

In December 1986, the Company made its initial public offering of common shares to finance among other things the modernization of its facilities. As a result, the Company became a public entity whose common shares were listed on the Montréal Exchange (now on the Toronto Stock Exchange).

In November 1987, Héroux expanded into the United States through the acquisition of McSwain Manufacturing Corporation in order to diversify its operations and enter the industrial market.

On June 3, 1999, the Company acquired Métro Machining Corporation and Les Industries C.A.T. inc., specializing in aircraft structural components. These two acquisitions became the foundation of the Aerostructures Division.

In June 2000, Héroux announced the successful completion of its take-over bid for all of the shares of Devtek Corporation. In September of that year, Héroux Inc. changed its name to Héroux-Devtek Inc.

The centerpiece of the deal was the West Heights Manufacturing facility in Kitchener, Ontario. West Heights Manufacturing is a state-of-the-art precision machining and assembly facility, dedicated to the manufacture of medium to large size landing gear and structural components for the Aerospace industry. After the take-over, West Heights Manufacturing was re-named "Heroux Devtek - Kitchener".

On April 1, 2004 the Company acquired Progressive Inc., a Texas-based manufacturer of large components to military aircraft OEM. The acquisition strengthened Héroux-Devtek's Aerostructure Division by providing access to the important military aerospace sector and its aircraft platform.

On April 8, 2010 the Company announced the acquisition of Eagle Tool & Machine Co. (“Eagle Tool”) and of its subsidiary E-2 Precision Products (“E-2”), two privately-owned manufacturers of precision machined components for the aerospace industry.

Heroux Devtek has a strong reputation on the market and is recognized as a key player in the design and qualification of landing gear systems. New platforms are now being designed by the Landing gear Division such as the Sikorsky CH-53K Heavylift helicopter, Embraer Legacy 450/500 and Bombardier Learjet 85 Business jets.




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