Heroux Devtek renews US military contract worth $90 million
Aerospace manufacturer will provide landing gear and overhaul services to US Air Force aircraft over four years.
LONGUEUIL, Que.: Héroux-Devtek Inc. has renewed a contract with the US Air Force to provide landing gear repair and overhaul services from the C-130, E-3 and KC-135R aircrafts in a four-year deal worth $90 million.
The Longueuil, Que.-based aerospace manufacturer will also be responsible for manufacturing aftermarket component for the aircraft.
Military contracts are nothing new to the company. Heroux Devtek, which has facilities in Canada, the US, and Mexico, supplies both commercial and military aerospace sectors with landing gear systems and airframe structural components. Approximately 70% of its sales are outside Canada, mainly to the US.
Earlier this week, the company sold its aerostructure and industrial products operations to Precision Castparts Corp. for $300 million. Heroux Devtek expects the sale to net approximately $230 million after taxes and expenses.