Remarks by Minister of National Defence Bill Blair at CANSEC 2024

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  October 2, 2018 | Local, Aerospace

  HÉROUX-DEVTEK COMPLETES THE ACQUISITION OF CESA AND UPDATES ITS GUIDANCE

  Longueuil, Quebec, October 1st, 2018 - Héroux-Devtek Inc. (TSX: HRX) (“Héroux-Devtek” or the “Corporation”), a leading international manufacturer of aerospace products, is pleased to announce that it has successfully completed the acquisition of Compañia Española de Sistemas Aeronáuticos, S.A. (“CESA”), a subsidiary of Airbus SE (PA: AIR) for a purchase price of 137 million euros (approximately $206 million) enterprise value, including CESA's net outstanding debt of 23 million euros (approximately $35 million), subject to customary closing adjustments. “We are very pleased to have completed this acquisition which is the largest in our history and represents an important milestone in our international expansion,” said Héroux-Devtek President & CEO, Gilles Labbé. “CESA will allow us to increase our market presence in Europe, gain important content on several key aircraft programs and leverage customer relationships with Airbus and other key customers. We are honoured to welcome the CESA team to the HérouxDevtek family.” “The acquisition also expands Héroux-Devtek's product and service offering into the actuation and hydraulic systems and adds new technology, such as electromechanical actuation, to our portfolio. Our product mix will also evolve with 42% of revenues being generated from proprietary products,” continued Mr. Labbé. “Partnered with the complementary addition of Beaver's expertise in ball screws, we see great opportunity to grow the business in the actuation market, which is significantly larger than the landing gear market,” he concluded. “We look forward to continuing our close business relationship with CESA, which remains a key supplier for Airbus,” said Fernando Alonso, Head of Military Aircraft at Airbus Defence and Space. “CESA and its employees are set to benefit from the new strategic owner's strong industrial plan over the coming years.” The transaction was funded through a combination of a $50 million seven-year unsecured subordinated term loan provided by Fonds de solidarité FTQ, the Corporation's revolving credit facility and available cash on hand. In connection with this acquisition, the Corporation's credit facility was amended, increasing the borrowing limit to $250 million from $200 million. Headquartered in Madrid, Spain, CESA is a leading European provider of fluid mechanical and electromechanical systems for the aerospace industry. Its main product lines include actuation and hydraulic systems as well as landing gear products. CESA provides an integrated product and service offering comprised of design and development engineering, certification, manufacturing, assembly and fleet support to a broad range of customers and aircraft programs. It operates a 366,000 square foot state-of-the-art industrial complex in Madrid, as well as another facility in Seville. CESA employs a skilled workforce of approximately 300 employees. UPDATED GUIDANCE Management is updating its sales guidance for fiscal 2019 to reflect the CESA acquisition. Management now expects sales for fiscal 2019 to be in the range of $460 million to $470 million, representing an increase of approximately 20% over last year. Capital expenditures are expected to be approximately $20 million. Management is also issuing new long-term sales growth guidance reflecting both the Beaver acquisition completed last July and the CESA acquisition. Management expects fiscal 2022 sales in the range of $620 million to $650 million. http://www.herouxdevtek.com/news-events/press-releases/2018

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  April 24, 2022 | Local, Aerospace

  L3Harris remporte un contrat de 482 millions $ US (609 M$ CA) auprès de l'Aviation royale canadienne pour le prolongement du soutien des CF-18

  Points clés :  Témoigne des capacités et de l'expertise de L3Harris en matière de soutien en service de premier choix  Confirme la position de L3Harris en tant que seul centre d'excellence au Canada pour les avions de chasse  Souligne un partenariat canadien fructueux de 35 ans pour la flotte d'avions CF-18 MIRABEL (Québec), le 21 avril 2022 — L3Harris Technologies (NYSE : LHX) a remporté un contrat basé sur la performance d'une durée de 4 ans avec années d'option et d'une valeur de 482 millions $ US (609 millions $ CA), renouvelant le soutien en service pour la flotte d'avions de chasse CF-18 Hornet exploitée par l'Aviation royale canadienne (ARC) jusqu'au retrait de service de la flotte prévu en 2032. Dans le cadre du processus d'analyse de rentabilisation de soutien, les quatre fondements de l'initiative de soutien, soit la performance, la rentabilité, la flexibilité et les avantages économiques, ont été les moteurs de l'élaboration d'une solution optimisée et bien adaptée. Gr'ce à ce renouvellement de contrat, L3Harris continuera d'assurer les activités liées à la gestion de la flotte et du programme, à la maintenance, à l'ingénierie, à la gestion du matériel, aux publications électroniques, au soutien logistique intégré, à la gestion de données et au soutien pour les logiciels opérationnels. Ces activités se dérouleront aux installations de L3Harris à Mirabel, ainsi qu'aux bases des Forces canadiennes (BFC) de Cold Lake et de Bagotville. « Ce contrat témoigne du fait que L3Harris est l'unique centre d'excellence au Canada pour les avions de chasse, en plus d'être une preuve de notre efficacité et de notre engagement constants envers l'orientation client, une exécution sans faille et un partenariat à long terme avec l'ARC », a déclaré Ugo Paniconi, directeur général de MAS, L3Harris. Récemment, L3Harris a souligné 35 ans de soutien en service pour les CF-18, notamment d'importants travaux de prolongation de la durée de vie structurale et de modernisation des systèmes leur permettant de demeurer fonctionnels au plan opérationnel et accroissant la valeur de l'investissement du Canada pour ces aéronefs. Le contrat, basé sur la performance, apportera flexibilité, avantages économiques et valeur dans le cadre de l'Initiative de soutien du Canada. L3Harris a créé des centaines d'emplois de haute technologie au Québec gr'ce aux contrats de soutien pour l'avion F/A-18 avec le Canada, l'Australie, la Suisse, la Finlande, l'Espagne et les États-Unis. La division de Mirabel de L3Harris compte plus de 1 150 employés au pays et est l'un des principaux intégrateurs de soutien en service du ministère de la Défense nationale. À propos de L3Harris Technologies L3Harris Technologies, une entreprise multinationale flexible et novatrice du secteur des technologies aérospatiales et de la défense, propose des solutions complètes qui répondent aux besoins des missions de haute importance de nos clients. Elle offre des technologies de défense et commerciales de pointe dans les domaines aérospatial, aéronautique, terrestre, maritime et cybernétique. L3Harris a un chiffre d'affaires annuel de plus de 17 milliards de dollars et 47 000 employés, avec des clients dans plus de 100 pays. L3Harris.com. Déclarations prospectives Le présent communiqué de presse contient des déclarations prospectives fondées sur des attentes, des hypothèses et des estimations actuelles de la direction relatives au rendement et à la conjoncture économique futurs. Ces déclarations sont énoncées sous réserve des règles d'exonération (safe harbor provisions) prévues à l'article 27A de la Securities Act, loi américaine de 1933 et à l'article 21E de la Securities Exchange Act, loi américaine de 1934. L'entreprise met en garde les investisseurs du fait que toute déclaration prospective est soumise à des risques et à des incertitudes, si bien que les résultats réels et futurs sont susceptibles de différer de façon significative de ceux exprimés ou sous-entendus dans ces déclarations prospectives. Les énoncés concernant la valeur ou la valeur prévue des commandes, contrats ou programmes sont des déclarations prospectives soumises à des risques et à des incertitudes. L3Harris décline toute intention ou obligation de mettre à jour ou de réviser ses déclarations prospectives consécutivement à l'obtention de nouveaux renseignements ou à de nouveaux événements ou pour tout autre motif. Personnes-ressources : Marcella Thompson Systèmes de mission intégrés Marcella.Thompson@L3Harris.com 214-430-8872 Jim Burke Relations avec les médias Jim.Burke@L3Harris.com 321-727-9131

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  January 7, 2019 | Local, Aerospace

  Installing Canadian software on Australian F-18s first order of business when aircraft arrive, says defence official

  DAVID PUGLIESE, OTTAWA CITIZEN One of the first things that will be done to the used Australian F-18s that Canada is purchasing is that the aircraft will be outfitted with different ejection seats and software. The first two F-18s that Canada is buying from Australia will arrive sometime in the spring and will be sent to Cold Lake, Alta, said Pat Finn, assistant deputy minister for materiel at the Department of National Defence. “They land, they (the Australians) will remove their software and we'll install our software,” Finn explained in an interview. Also to be installed are ejection seats and a lighting system that is used on the CF-18s. “Ultimately the intent is the 18 aircraft are indistinguishable from our 76 aircraft,” Finn said. Canada has finalized its deal to buy the 25 used fighter jets from Australia, Eighteen of the Australian F-18 aircraft will eventually be flying while another seven will be used for testing and spare parts. The Department of National Defence still has to figure out how to get the aircraft over from Australia. “We would rather fly them over,” Finn said. “Or have them (the Australians) fly them over.” The Liberal government had originally planned to buy 18 new Super Hornet fighter jets from U.S. aerospace giant Boeing to augment the Royal Canadian Air Force's CF-18s until new aircraft can be purchased in the coming years. But in 2017 Boeing complained to the U.S. Commerce Department that Canadian subsidies for Quebec-based Bombardier allowed it to sell its C-series civilian passenger aircraft in the U.S. at cut-rate prices. As a result, the Trump administration brought in a tariff of almost 300 per cent against the Bombardier aircraft sold in the U.S. In retaliation, Canada cancelled the deal to buy the 18 Super Hornets. That project would have cost more than US$5 billion. Instead of buying the new Super Hornets, the Liberals decided to acquire the used Australian jets. Defence Minister Harjit Sajjan says the extra jets are needed to deal with a “capability gap” as Canada does not have enough fighters to handle its commitments to NATO as well as protecting North America. But Conservative MPs say the capability gap didn't exist and was concocted by the government to delay a larger project to buy new jets, a competition that might end up selecting the F-35 stealth fighter the Liberals vowed never to purchase. In November 2018 Auditor General Michael Ferguson issued a report noting that the purchase of the extra aircraft would not fix the fundamental weaknesses with the CF-18 fleet which is the aircraft's declining combat capability and a shortage of pilots and maintenance personnel. “The Australian F/A-18s will need modifications and upgrades to allow them to fly until 2032,” the report noted. “These modifications will bring the F/A-18s to the same level as the CF-18s but will not improve the CF-18's combat capability.” https://ottawacitizen.com/news/national/defence-watch/installing-canadian-software-on-australian-f-18s-first-order-of-business-when-aircraft-arrive-says-defence-official