LONGUEUIL, QC, March 31, 2014 /CNW Telbec/ - Héroux-Devtek Inc. (TSX: HRX) ("Héroux-Devtek" or the "Corporation"), a leading Canadian manufacturer of aerospace products, announced today that it has reached an agreement with a syndicate of banks to amend and restate its existing Credit Facility (the "Facility"). Under the terms of the agreement, the Facility has been extended for a three-year period with a new maturity date set for March 16, 2019. The authorized amount has been increased from $150 million to $200 million, while the Facility could also be increased by an additional amount of $75 million, subject to lenders' consent.

This Facility will be used for working capital, capital expenditures and other general corporate purposes of Héroux-Devtek and its subsidiaries, including acquisitions. This Facility will be secured by all assets of the Corporation and its subsidiaries, and will be subject to certain restrictive covenants and corporate guarantees granted by the Corporation and its subsidiaries.

PROFILE
Héroux-Devtek Inc. (TSX: HRX) is a Canadian company specializing in the design, development, manufacture and repair and overhaul of landing gear and actuation systems and components for the Aerospace market. The Corporation is the third largest landing gear company worldwide, supplying both the commercial and military sectors of the Aerospace market with new landing gear systems and components, as well as aftermarket products and services. The Corporation also manufactures electronic enclosures, heat exchangers and cabinets for suppliers of airborne radar, electro-optic systems and aircraft controls through its Magtron operations.  On a pro forma basis, approximately 75% of the Corporation's sales are outside Canada, including 50% in the United States. The Corporation's head office is located in Longueuil, Québec with facilities in the Greater Montreal area (Longueuil, Laval and St-Hubert); Kitchener and Toronto, Ontario; Springfield and Cleveland, Ohio; Wichita, Kansas; and Runcorn, Nottingham and Bolton, United Kingdom.

FORWARD-LOOKING STATEMENTS

Except for historical information provided herein, this press release may contain information and statements of a forward-looking nature concerning the future performance of the Corporation. These statements are based on suppositions and uncertainties as well as on management's best possible evaluation of future events. Such factors may include, without excluding other considerations, 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.

SOURCE Héroux-Devtek Inc.