SADI invests $49 million in Héroux-Devtek

The Strategic Aerospace and Defence Initiative (SADI) has announced a $48.9-million repayable investment in Héroux-Devtek Inc to develop an integrated aerospace landing gear system for commercial and military markets. The funding will be released to the company over a five-year period and the contribution will become gradually repayable starting one year after that period. The Longueuil QC-based firm will conduct R&D that will lead to new technologies to make its landing gear systems lighter and improve performance, reducing greenhouse gas emissions and the firm's overall environmental footprint. Heroux-Devtek is the world's third largest landing gear company and participates as a systems integrator on many programs internationally. In 2012 it had sales of $380.3 million and the firm spends close to 4-5% of sales on R&D. Last year it completed construction on a new facility in Saint-Hubert to consolidate its engineering and design functions and testing laboratory…..