LONGUEUIL, QC, April
7, 2020 /CNW Telbec/ - Héroux-Devtek Inc. (TSX: HRX)
("Héroux-Devtek" or the "Corporation"), a leading international
manufacturer of aerospace products and the world's third-largest
landing gear manufacturer, today announced its decision to
withdraw its Fiscal 2022 sales guidance given the uncertainty
brought to overall economic conditions, and specifically the
aerospace market, by the ongoing COVID-19 pandemic.
"We are withdrawing our Fiscal 2022 sales guidance given our
currently limited visibility over the longer-term impact of the
pandemic on the aerospace market, especially in the commercial
segment. Our strong defence backlog, however, will play a key role
in our ability to weather the storm," said Martin Brassard, President and CEO of
Héroux-Devtek.
FORWARD-LOOKING STATEMENTS
Except for historical information, this press release contains
information and statements of a forward-looking nature concerning
the future performance of the Corporation.
Forward-looking statements are based on assumptions and
uncertainties as well as on management's best possible evaluation
of future events. Such factors may include, without excluding other
considerations, the impact of the COVID-19 pandemic, 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. Please refer to the Corporations' latest
MD&A for further details regarding the material assumptions
underlying the forecasts and guidance. Such forecasts and guidance
are provided for the purpose of assisting the reader in
understanding the Corporation's financial performance and prospects
and to present management's assessment of future plans and
operations, and the reader is cautioned that such statements may
not be appropriate for other purposes.
ABOUT HÉROUX-DEVTEK
Héroux-Devtek Inc. (TSX: HRX) is an international company
specializing in the design, development, manufacture, repair and
overhaul of aircraft landing gear, hydraulic and electromechanical
actuators, custom ball screws and fracture-critical components for
the Aerospace market. The Corporation is the third-largest landing
gear company worldwide, supplying both the commercial and defence
sectors. Approximately 90% of the Corporation's sales are outside
of Canada, including about 50% in
the United States. The
Corporation's head office is located in Longueuil, Québec with facilities in
Canada, the United States, the United Kingdom and Spain.
SOURCE Héroux-Devtek Inc.