A strategic sale

摘要

With the long-term goal of remaining profitable and competitive in a challenging market, Heroux-Devtek in late July sold its Aerotructure and Industrial Products division to Precision Castparts Corp. based in Portland, Ore.The $300 million deal drove the company's stock up 33 per cent and enabled the firm to return to its roots of focusing on making landing gear for key civil and military clients, some two thirds of the firm's core business, said president/CEO Gilles Labbe."Our vision is to continue to build Heroux-Devtek into a Quebec-based world-class organization in this core market," said Labbe. "[This transaction] allows us to be a more pure play in the aerospace business and a niche market also. We will develop more and more engineering products in the aerospace sector... the business we are keeping represents two-thirds of the revenue."