Press release from Marketwire
CAE signs contracts valued at more than C$90 million for six full-flight simulators, training devices and update services
Friday, November 08, 2013
CAE signs contracts valued at more than C$90 million for six full-flight simulators, training devices and update services06:03 EST Friday, November 08, 2013
MONTREAL, CANADA--(Marketwired - Nov. 8, 2013) - (NYSE:CAE)(TSX:CAE) - CAE today announced that it has signed contracts for six full-flight simulators (FFSs), flight training devices and simulator update services. The contracts include the sale of four simulators to Lion Air Group which was announced today as well as two simulators to undisclosed customers.
The contracts are worth more than C$90 million at list prices, and bring the total number of FFS sales announced to date for fiscal year 2014 to 33. List prices include the value of OEM aircraft-specific data, parts and equipment (DP&E), normally procured by CAE in the manufacture of its simulators. In the case of these contracts, customers are providing part of the OEM content.
CAE is a global leader in modeling, simulation and training for civil aviation and defense. The company employs approximately 8,000 people at more than 100 sites and training locations in approximately 30 countries. CAE offers civil aviation, military, and helicopter training services in more than 50 locations worldwide and trains approximately 100,000 crewmembers yearly. In addition, the CAE Oxford Aviation Academy offers training to aspiring pilot cadets in 10 CAE-operated flight schools. CAE's business is diversified, ranging from the sale of simulation products to providing comprehensive services such as training and aviation services, integrated enterprise solutions, in-service support and crew sourcing. The company applies simulation expertise and operational experience to help customers enhance safety, improve efficiency, maintain readiness and solve challenging problems. CAE is leveraging its simulation capabilities in new markets such as healthcare and mining. www.cae.com
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Nathalie Bourque, Vice President,
Public Affairs and Global Communications
Andrew Arnovitz, Vice President,
Investor Relations and Strategy