LONGUEUIL, QC , April 3, 2014 /CNW Telbec/ - Héroux-Devtek Inc. (HRX.TO) ("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 Dor é, 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. (HRX.TO) 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 expected results.
SOURCE Héroux-Devtek Inc.
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President and Chief Executive Officer
Tel.: (450) 679-3330
Martin Goulet, CFA
Tel.: (514) 731-0000