Friday, October 9th11.5°C

Aerospace company Heroux-Devtek to lay off employees at plant near Montreal

LONGUEUIL, Que. - Heroux-Devtek Inc. will layoff about 55 employees at one of its Montreal-area plants due to lower demand from the U.S. military market.

The layoffs are expected to start in April and take place over 12 months, leaving 15 workers at the plant in nearby Longueuil, Heroux-Devtek said Thursday.

The landing gear manufacturer said its operations in Longueuil will be centred at its upgraded, main plant where 360 employees will focus on repair, overhaul and assembly of landing gear systems.

"We regret the impact for the affected employees and their families, but the steep decline in U.S.-based customer demand for military aftermarket products called for adjustments in our manufacturing base," president and chief executive Gilles Labbe said in a news release.

The company said the layoffs will result in a charge of about $5 million before income taxes to be spread over the fourth quarter of the fiscal year ended March 31, 2014 and the first half of the 2015 fiscal year.

Heroux-Devtek (TSX:HRX) has said it has been affected by reduced U.S. military spending and the partial U.S. government shutdown last fall.

The company is the third largest landing gear company globally and supplies both commercial and military sectors of the aerospace industry with landing gear systems and components, as well as other aerospace products and services.

The Canadian Press

Read more Business News

Recent Trending

Today's Market
S&P TSX13978.66+110.31
S&P CDNX547.04+4.59
S&P 5002013.43+17.60
CDN Dollar0.7743+0.0059
Natural Gas2.492-0.006

Okanagan Companies
Pacific Safety0.23+0.01
QHR Technologies Inc1.23-0.02
Metalex Ventures0.05+0.00
Russel Metals21.55-1.57
Copper Mountain Mining0.61-0.02
Colorado Resources0.07-0.01
ReliaBrand Inc0.0166+0.0135
Sunrise Resources Ltd0.02+0.00
Mission Ready Services0.08-0.01
Decisive Dividend Corp3.11-0.10
Diamcor Mining0.94+0.06


2422691Rare home in Crystal Springs
more details
Click here to feature your property
Please wait... loading

Income for life?

Photo: Thinkstock.comIn almost every conversation I have with clients these days, the topic swings to interest rates. What direction they’re going, how long will they stay where they are and how...

Perfect (reno'd) home

Photo: Thinkstock.comHow many times have you found a home in the perfect location, but it needs too much work as per the home inspection? There is a great program available through most lenders that w...

5 Claim misconceptions

Photo: Thinkstock.comIf you have been hurt in an accident or as a result of medical negligence you will likely look to your friends and family for some advice on how to deal with the situation. These ...


Member of BC Press Council