| 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 50's. During the 1960's, 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.
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.
Over the past five years, Héroux-Devtek gained a strong reputation on the market and is now 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. |