October 2, 2017

Heroux-Devtek Announces Agreement to Acquire CESA, a Leading European Manufacturer of Landing Gear, Actuation and Hydraulic Systems

Strategic and accretive acquisition will significantly enhance Heroux-Devtek's reach in Europe
Purchase price of ?140 million (approximately $205 million)

MADRID, SPAIN--(Marketwired - Oct. 2, 2017) - Héroux-Devtek Inc. (TSX:HRX) ("Héroux-Devtek" or the "Corporation"), a leading international manufacturer of aerospace products, is pleased to announce an agreement to acquire Compañia Española de Sistemas Aeronauticos, S.A. ("CESA"), a subsidiary of Airbus SE (PA: AIR), (the "Transaction") for a purchase price of EUR140 million (approximately $205 million) enterprise value, subject to customary closing adjustments. Unless otherwise indicated, all amounts are in Canadian dollars. Approximate Canadian dollar equivalents to Euros are based on the current exchange rate.

"The acquisition of CESA marks a pivotal moment in Héroux-Devtek's international expansion. This transaction will allow us to increase our presence with Airbus, hence giving us better access to one of the largest aircraft manufacturers in the world. With this transaction, we are significantly increasing our presence in Europe, expanding our product and service offering into complementary activities, adding a significant intellectual property rights portfolio, as well as gaining important content on several key aircraft programs and customers. CESA has a strong management team with talented and committed employees and we are looking forward to having them join us. We are very excited to continue building a sustainable future for the Corporation and creating value for our shareholders by proceeding with the largest acquisition in our history," said Gilles Labbé, President and Chief Executive Officer of Héroux-Devtek.

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 landing gear, actuation and hydraulic systems. 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 has cultivated long-term relationships with customers across several key platforms. 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 340 employees.

"This transaction is in line with our strategic objective of expanding into activities that complement our core landing gear market. In addition to providing us with incremental landing gear business, CESA's world-class expertise in actuation and hydraulic systems will allow Héroux-Devtek to further enhance its reputation as a key supplier to leading global aerospace original aircraft manufacturers," added Réal Bélanger, Executive Vice-President, Business Development and Special Projects of Héroux-Devtek.

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