Heroux-Devtek (TSX:HRX) said Friday working to reduce costs for new fighter jet program – Dominion Lending Centres Clearlease Reports

Heroux-Devtek (TSX:HRX) said Friday working to reduce costs for new fighter jet program – Dominion Lending Centres Clearlease Reports

MONTREAL – (April 15, 2011) Dominion Lending Centres Clearlease Reports Canadian suppliers are cutting expenses to address cost overruns and make the Joint Strike Fighter warplane more affordable, the head of landing gear company Heroux-Devtek (TSX:HRX) said Friday.

Even though Canada’s purchase of the F35 jet fighters has become a controversial issue in the May 2 federal election campaign, Gilles Labbe said the program is a unique opportunity for Canada’s aerospace sector.

While refusing to say whether he wants to see the Conservatives re-elected, Labbe said the program will be lucrative for Canadian companies.

They will provide content for thousands of airplanes that will be produced over the coming decades for air forces around the world, not just for 65 planes ordered by Canada.

The federal opposition parties have complained during the election campaign that the new jets are too costly and Canada entered into the long-term contract without a competitive bid and is hiding the true cost of the purchase.

The Conservative government counters that scrapping the deal — a contract it calls the lowest-cost option to replace Canada’s current fleet of aging warplanes — would be too expensive and wouldn’t provide any significant savings.

The F35 is a state-of-the art fighter with avionics and weapons systems that allow the plane to be easily modified to meet many defence needs — by the U.S. Navy on aircraft carriers as well as global air forces or Marines from land bases.

Suppliers all have the responsibility to reduce their costs, said Labbe, who also heads Aero Montreal, a group which represents the world’s third largest cluster of aerospace companies.

Heroux-Devtek has met the reduced targets of plane manufacturer Lockheed-Martin, one of the world’s biggest defence contractors, he told reporters.

Labbe added that the hiring and recall of laid-off employees will accelerate as production for commercial and business aircraft begins to gear up this year.

The search for engineers will expand to factory workers later this year and into 2012, especially as the business jet markets starts to takeoff, he said.

Quebec’s aerospace companies have invested in research and development over the past year to ensure their long-term competitiveness.

That will translate into the industry’s production rate beginning to surpass pre-recession highs by 2014, he said, citing a Conference Board of Canada report.

For more information please visit us at: http://www.clearlease.com/Career-Opportunities.html

About Dominion Lending Centres Clearlease

Dominion Lending Centres Clearlease Commercial (DLC Clearlease/Clearlease.com) is a fully diversified Lease Finance Mortgage Banking Brokerage Company specializing in Equipment Leasing, Automobile Leasing, Residential, Commercial Lending/Mortgage Financing. DLC Clearlease possesses the capability to accommodate financing needs ranging from a small second Home Mortgage to a Multi-Million Dollar Commercial Projects. No mortgage is too small or too large for this integrated Company.

Headquartered in Downtown Vancouver, British Columbia. We’re expanding in Q2, 2011 to Calgary and Edmonton, Alberta! In Q3, 2011 we are expanding in Toronto, Ontario! Dominion Lending Centres Clearlease services clients from Coast to Coast. Our Residential Group has a team of Licensed Mortgage Brokers offering our clients the best terms and rates available in the current market. Our Commercial Funding/Mortgage Group is active across Canada Funding Mortgages in cities such as Toronto, Edmonton, Calgary, Vancouver and Victoria.

You may have recently seen a Dominion Lending advertisement on such media outlets as: Global News, CTV News, CBC Television, Rogers Sportsnet or possibly heard the great Don Cherry, a Canadian Sports legend, discuss Dominion Lending Centres.

Contact DLC Clearlease.com:

Dominion Lending Centres Clearlease
HEAD OFFICE, Bentall Two, Suite 900, 555 Burrard Street, Vancouver, BC, V7X 1M8, CANADA.
Mr. A. Pidgeon, Editor in Chief
Tel: (604) 696-1221 ext. 177
eMail: clearlease@gmail.com
Website: http://www.clearlease.com
News: http://clearlease.com/category/equipment-lease-blog/feed/rss
Twitter: @clearlease

###
Heroux-Devtek (TSX:HRX) said Friday working to reduce costs for new fighter jet program - Dominion Lending Centres Clearlease Reports

MONTREAL – (April 15, 2011) Dominion Lending Centres Clearlease Reports Canadian suppliers are cutting expenses to address cost overruns and make the Joint Strike Fighter warplane more affordable, the head of landing gear company Heroux-Devtek (TSX:HRX) said Friday.

Even though Canada’s purchase of the F35 jet fighters has become a controversial issue in the May 2 federal election campaign, Gilles Labbe said the program is a unique opportunity for Canada’s aerospace sector.

While refusing to say whether he wants to see the Conservatives re-elected, Labbe said the program will be lucrative for Canadian companies.

They will provide content for thousands of airplanes that will be produced over the coming decades for air forces around the world, not just for 65 planes ordered by Canada.

The federal opposition parties have complained during the election campaign that the new jets are too costly and Canada entered into the long-term contract without a competitive bid and is hiding the true cost of the purchase.

The Conservative government counters that scrapping the deal — a contract it calls the lowest-cost option to replace Canada’s current fleet of aging warplanes — would be too expensive and wouldn’t provide any significant savings.

The F35 is a state-of-the art fighter with avionics and weapons systems that allow the plane to be easily modified to meet many defence needs — by the U.S. Navy on aircraft carriers as well as global air forces or Marines from land bases.

Suppliers all have the responsibility to reduce their costs, said Labbe, who also heads Aero Montreal, a group which represents the world’s third largest cluster of aerospace companies.

Heroux-Devtek has met the reduced targets of plane manufacturer Lockheed-Martin, one of the world’s biggest defence contractors, he told reporters.

Labbe added that the hiring and recall of laid-off employees will accelerate as production for commercial and business aircraft begins to gear up this year.

The search for engineers will expand to factory workers later this year and into 2012, especially as the business jet markets starts to takeoff, he said.

Quebec’s aerospace companies have invested in research and development over the past year to ensure their long-term competitiveness.

That will translate into the industry’s production rate beginning to surpass pre-recession highs by 2014, he said, citing a Conference Board of Canada report.

For more information please visit us at: http://www.clearlease.com/Career-Opportunities.html

About Dominion Lending Centres Clearlease

Dominion Lending Centres Clearlease Commercial (DLC Clearlease/Clearlease.com) is a fully diversified Lease Finance Mortgage Banking Brokerage Company specializing in Equipment Leasing, Automobile Leasing, Residential, Commercial Lending/Mortgage Financing. DLC Clearlease possesses the capability to accommodate financing needs ranging from a small second Home Mortgage to a Multi-Million Dollar Commercial Projects. No mortgage is too small or too large for this integrated Company.

Headquartered in Downtown Vancouver, British Columbia. We’re expanding in Q2, 2011 to Calgary and Edmonton, Alberta! In Q3, 2011 we are expanding in Toronto, Ontario! Dominion Lending Centres Clearlease services clients from Coast to Coast. Our Residential Group has a team of Licensed Mortgage Brokers offering our clients the best terms and rates available in the current market. Our Commercial Funding/Mortgage Group is active across Canada Funding Mortgages in cities such as Toronto, Edmonton, Calgary, Vancouver and Victoria.

You may have recently seen a Dominion Lending advertisement on such media outlets as: Global News, CTV News, CBC Television, Rogers Sportsnet or possibly heard the great Don Cherry, a Canadian Sports legend, discuss Dominion Lending Centres.

Contact DLC Clearlease.com:

Dominion Lending Centres Clearlease
HEAD OFFICE, Bentall Two, Suite 900, 555 Burrard Street, Vancouver, BC, V7X 1M8, CANADA.
Mr. A. Pidgeon, Editor in Chief
Tel: (604) 696-1221 ext. 177
eMail: clearlease@gmail.com
Website: http://www.clearlease.com
News: http://clearlease.com/category/equipment-lease-blog/feed/rss
Twitter: @clearlease

###Heroux-Devtek (TSX:HRX) said Friday working to reduce costs for new fighter jet program – Dominion Lending Centres Clearlease Reports

MONTREAL – (April 15, 2011) Dominion Lending Centres Clearlease Reports Canadian suppliers are cutting expenses to address cost overruns and make the Joint Strike Fighter warplane more affordable, the head of landing gear company Heroux-Devtek (TSX:HRX) said Friday.

Even though Canada’s purchase of the F35 jet fighters has become a controversial issue in the May 2 federal election campaign, Gilles Labbe said the program is a unique opportunity for Canada’s aerospace sector.

While refusing to say whether he wants to see the Conservatives re-elected, Labbe said the program will be lucrative for Canadian companies.

They will provide content for thousands of airplanes that will be produced over the coming decades for air forces around the world, not just for 65 planes ordered by Canada.

The federal opposition parties have complained during the election campaign that the new jets are too costly and Canada entered into the long-term contract without a competitive bid and is hiding the true cost of the purchase.

The Conservative government counters that scrapping the deal — a contract it calls the lowest-cost option to replace Canada’s current fleet of aging warplanes — would be too expensive and wouldn’t provide any significant savings.

The F35 is a state-of-the art fighter with avionics and weapons systems that allow the plane to be easily modified to meet many defence needs — by the U.S. Navy on aircraft carriers as well as global air forces or Marines from land bases.

Suppliers all have the responsibility to reduce their costs, said Labbe, who also heads Aero Montreal, a group which represents the world’s third largest cluster of aerospace companies.

Heroux-Devtek has met the reduced targets of plane manufacturer Lockheed-Martin, one of the world’s biggest defence contractors, he told reporters.

Labbe added that the hiring and recall of laid-off employees will accelerate as production for commercial and business aircraft begins to gear up this year.

The search for engineers will expand to factory workers later this year and into 2012, especially as the business jet markets starts to takeoff, he said.

Quebec’s aerospace companies have invested in research and development over the past year to ensure their long-term competitiveness.

That will translate into the industry’s production rate beginning to surpass pre-recession highs by 2014, he said, citing a Conference Board of Canada report.

For more information please visit us at: http://www.clearlease.com/Career-Opportunities.html

About Dominion Lending Centres Clearlease

Dominion Lending Centres Clearlease Commercial (DLC Clearlease/Clearlease.com) is a fully diversified Lease Finance Mortgage Banking Brokerage Company specializing in Equipment Leasing, Automobile Leasing, Residential, Commercial Lending/Mortgage Financing. DLC Clearlease possesses the capability to accommodate financing needs ranging from a small second Home Mortgage to a Multi-Million Dollar Commercial Projects. No mortgage is too small or too large for this integrated Company.

Headquartered in Downtown Vancouver, British Columbia. We’re expanding in Q2, 2011 to Calgary and Edmonton, Alberta! In Q3, 2011 we are expanding in Toronto, Ontario! Dominion Lending Centres Clearlease services clients from Coast to Coast. Our Residential Group has a team of Licensed Mortgage Brokers offering our clients the best terms and rates available in the current market. Our Commercial Funding/Mortgage Group is active across Canada Funding Mortgages in cities such as Toronto, Edmonton, Calgary, Vancouver and Victoria.

You may have recently seen a Dominion Lending advertisement on such media outlets as: Global News, CTV News, CBC Television, Rogers Sportsnet or possibly heard the great Don Cherry, a Canadian Sports legend, discuss Dominion Lending Centres.

Contact DLC Clearlease.com:

Dominion Lending Centres Clearlease
HEAD OFFICE, Bentall Two, Suite 900, 555 Burrard Street, Vancouver, BC, V7X 1M8, CANADA.
Mr. A. Pidgeon, Editor in Chief
Tel: (604) 696-1221 ext. 177
eMail: clearlease@gmail.com
Website: http://www.clearlease.com
News: http://clearlease.com/category/equipment-lease-blog/feed/rss
Twitter: @clearlease

###



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