CAE Inc (TSE-CAE) wins defence contracts worth more than $100-million

Flight training simulator provider CAE Inc (TSE-CAE, Mkt cap 4.41B, P/E 18.42, Div/yield 0.08/1.83, EPS 0.89, Shares 269.63M) said last week that it has signed defence contracts valued at more than C$100m.

CAE defence contracts $100m

Cae Inc (TSE-CAE) wins defence contracts worth more than $100-million

The Montreal-based company will provide a range of simulation products and training support services for military customers in Canada and the UK, including Lockheed Martin and L-3 MAS.

In the UK, CAE will provide synthetic training equipment for the rotary-wing element of the country’s Military Flying Training System (UKMFTS) program. This contract, awarded by Lockheed Martin, covers seven flight training devices and one command and tactics trainer for the Airbus Helicopters H135/H145 family to support helicopter pilot training for the RAF, British Army and Royal Navy.

“We will now be providing simulators and training devices for both the fixed-wing and rotary-wing elements of UKMFTS, in addition to already having providing the Hawk full-mission simulators and tactical mission trainers used for rear-crew and observer training,” said Ian Bell, CAE’s vice president and general manager for Europe/Middle East/Africa.

In Canada, Lockheed Martin has awarded the company a five-year contract to continue providing in-service support for the Royal Canadian Air Force‘s CC-130J aircraft maintenance technician training program. This includes maintenance and support for the CC-130J fuselage training devices, integrated cockpit systems training device, and virtual maintenance trainers.

And in another Canadian contract, L-3 MAS, a subsidiary of L-3 Communications, has issued an order for CAE to continue providing a range of in-service support solutions for the Royal Canadian Air Force’s CF-18 fleet. CAE will provide avionics software upgrades, integrated logistics support and data management services.

“Our expertise as a training systems integrator and experience on enduring military aircraft platforms is providing us numerous opportunities around the world as defence forces look to expand their use of simulation for integrated mission training,” commented Gene Colabatistto, CAE group president for Defence & Security. “We are particularly pleased to once again be selected to provide synthetic training equipment for the UK MFTS program as well as demonstrating the recurring business we have to support the RCAF with long-term services.”

CAE Inc. (TSE-CAE) provides training for the civil aviation, defense and security, and healthcare markets.

Montreal based CAE Inc. (TSE-CAE) provides training for the civil aviation, defense and security, and healthcare markets. The Company designs and integrates training solutions. The Company operates through three segments: Civil Aviation Training Solutions, Defense and Security, and Healthcare. It provides integrated training solutions to three markets, such as the civil aviation market, which includes aircraft manufacturers, commercial airlines, regional airlines, business aircraft operators, civil helicopter operators, third-party training centers, flight training organizations, maintenance repair and overhaul organizations and aircraft finance leasing companies; the defense and security market, which includes defense forces, original equipment manufacturers (OEMs), government agencies and public safety organizations, and the healthcare market, which includes hospital and university simulation centers, medical and nursing schools, paramedic organizations, defense forces, medical societies and OEMs. More from Reuters » 

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