LONGUEUIL, QC, April 3, 2014 /CNW Telbec/ - Héroux-Devtek Inc. (TSX: HRX)
("Héroux-Devtek" or the "Corporation"), a leading Canadian manufacturer of
aerospace products, announced today changes to its Board of Directors.
After serving as Chairman of the Board of Directors (the "Board") of
Héroux-Devtek since August 2007, Mr. John M. Cybulski has announced his
intention to retire and has resigned from his position. Mr. Cybulski had been
a Director of the Corporation since 2004.
To replace Mr. Cybulski, the Board appointed Mr. Réal Raymond as Chairman.
Mr. Raymond has been a Director of the Corporation since 2010. After a
successful career at the National Bank of Canada, Mr. Raymond has been
actively involved with several corporate directorships. In addition to his
current duties with the Corporation, he currently sits on the Board of
Directors Sun Life Financial Inc., Metro Inc., Orchestre symphonique de
Montréal and the Institut de recherche en immunologie et en cancérologie
(IRIC). He is also Chairman of the Board of Aéroports de Montréal.
Finally, Mrs. Paule Doré, Corporate Director who joined Héroux-Devtek's
Board in 2010, will succeed Mr. Raymond as Chair of the Human Resources and
Corporate Governance Committee.
"As Chairman, John M. Cybulski played an important role in the evolution and
transformation of Héroux-Devtek over the past few years and his extensive
industry experience will be missed. On behalf of all Board members, I wish all
the best in his future endeavours," said Gilles Labbé, President and Chief
Executive Officer of Héroux-Devtek.
Héroux-Devtek Inc. (TSX: HRX) is a Canadian 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 military sectors of the Aerospace market with new landing gear
systems and components, as well as aftermarket products and services. The
Corporation also manufactures electronic enclosures, heat exchangers and
cabinets for suppliers of airborne radar, electro-optic systems and aircraft
controls through its Magtron operations. On a pro forma basis, approximately
75% of the Corporation's sales are outside Canada, including 50% 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 and Toronto, Ontario; Springfield and Cleveland, Ohio; Wichita,
Kansas; and Runcorn, Nottingham and Bolton, United Kingdom.
Except for historical information provided herein, this press release may
contain information and statements of a forward-looking nature concerning the
future performance of the Corporation. These statements are based on
suppositions 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
SOURCE Héroux-Devtek Inc.
From: Héroux-Devtek Inc. Gilles Labbé President and Chief Executive Officer
Tel.: (450) 679-3330
Contact: MaisonBrison Martin Goulet, CFA Tel.: (514) 731-0000
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-0- Apr/03/2014 12:30 GMT
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