CAE Inc. announced Thursday it was awarded a series of military contracts totalling more than $75-million.
The Montreal-based company which makes pilot simulators and provides aviation training, said it would be providing services to support military and homeland security programs in Canada and the United Kingdom.
"Growth in our defence and professional services segment continues to be an area of strategic importance for CAE, and we continue to see opportunities for extending the use of modelling and simulation to analysis, training and operational systems," said Martin Gagne, CAE's president of military simulation products, training and services.
Mr. Gagne added that CAE's acquisition of Xwave's defence, security and aerospace business earlier in the year from Bell Aliant had broadened the range of services the company was able to capitalize on.
The contracts come as the company strives to boost its military presence while the civil aviation field feels the impact of the global financial crunch.
In late August, CAE landed military contracts worth more than $100 million with defence industry heavyweights Eurocopter, Airbus Military and L-3 Communications.
With CAE's latest contracts, the company will provide the Department of National Defence with support for its Canadian Advanced Synthetic Environment project.
Related contentCAE inline chart
Under the contract, CAE and other partner companies will be supporting the implementation and operation of simulation-based environments in various locations.
Additionally, CAE said its professional services organization has been contracted by Thales Canada to support the Land Command Support System for the department of defence. In this five-year program CAE will provide systems engineering services to Thales to support the army's electronic warfare systems.
In another contract with Lockheed Martin, CAE will be providing ground-based tactical mission training solutions for the U.K. military.
CAE's mission trainers feature realistic tactical displays and sensor and subsystem simulations.
The U.K. program CAE will be supporting will provide training to all new U.K. military aircrew across the Royal Navy, Army and Royal Air Force.
CAE employs more than 6,500 people in 20 countries around the world, including thousands at its Montreal operations, and generates annual revenues of more than $1.6-billion.
The company's shares closed at $9.19 on Wednesday on the Toronto Stock Exchange.
Follow us on Twitter:
|CAE-T CAE Inc.||14.11||
|Add to watchlist|
|BA-T Bell Aliant||31.10||
|Add to watchlist|