CAE Awarded Military Contracts Valued At More Than C$100 Million
(NYSE: CAE) - CAE today announced that it was awarded a series of military contracts valued at more than C$100 million. They include contracts from Canada's Department of National Defence to perform major upgrades to CC-130H and CH-146 simulators, a contract from Professional Way in Malaysia to provide long-term support services for an AW139 full-flight simulator, a contract to develop two Tornado maintenance trainers for the German Air Force and Royal Air Force, and two contracts from undisclosed customers to provide a CAE 3000 Series helicopter simulator and related training services.
"CAE's global presence, our comprehensive portfolio of both simulation products and services, and a significant installed base continues to give us a solid pipeline of opportunities," said Martin Gagne, CAE's Group President, Military Products, Training and Services. "As militaries around the world face the reality of declining budgets, they will increasingly turn to simulation-based training to reduce costs and maintain readiness. CAE is well-positioned globally to address the growing use of simulation by governments and defence forces."
