CAE Joins Bombardier In Development Of CSeries Aircraft Program and Initial Training Devices
June 16, 2009 |
| CAE announced it has been selected as one of the CSeries, suppliers to support Bombardier in the design, integration and development of the CSeries aircraft program, and to support the aircraft's entry into service (EIS) training program. The contract with Bombardier includes the design and manufacture of an engineering development simulator as well as the prototype full-flight simulator (FFS) for the CSeries aircraft. These two simulators bring the total simulator sales that CAE has announced so far in fiscal 2010 to four. Under the agreement with Bombardier, CAE will provide a comprehensive suite of products, engineering services and simulation-based technology tools to support the design, testing and certification of the CSeries platform as part of Bombardier's Complete Integrated Aircraft Systems Test Aircraft (CIASTA) program. All research and development for this project will be done in Montreal, Canada. CAE will then design and deliver the prototype FFS, a CAE 7000 Series simulator, as well as a full suite of CAE Simfinity training devices to support the aircraft EIS and Bombardier flight and technical training. |
CAE Announces Orders For Two Additional Full-Flight Simulators From Mumtalakat
June 16, 2009 |
| CAE announced that it has sold two additional full-flight simulators (FFS) and a suite of support services to Bahrain Mumtalakat Holding Company ("Mumtalakat"), the investment arm of the Kingdom of Bahrain and the owner of Gulf Air, Bahrain's national carrier. The total list price value of the contract exceeds C$50 million. The contract is for a CAE 7000 Series A330/A340 convertible FFS and an additional CAE 5000 Series A320 FFS. All full-flight simulators for Mumtalakat will feature the CAE Tropos-6000 visual system. In addition, CAE will provide a suite of support services over the next ten years. The contract brings the total FFS sales that CAE has announced during fiscal year 2010 to six. |
CAE Wins Series Of C-130 Contracts
June 15, 2009 |
| CAE announced that it has been awarded a series of contracts from prime contractor Lockheed Martin and an undisclosed customer to design and manufacture four C-130 simulators and several training devices for military customers around the world. The contracts were signed over the past three months and the total value exceeds CDN$115 million. Of this total, more than CDN$60 million will be applied to CAE's fiscal year 2010. The remainder is already in the backlog of fiscal year 2009. |
CAE Announces A Series Of Military Contracts Valued At More Than CDN$80 Million
June 10, 2009 |
| CAE announced a series of military contracts valued at more than CDN$80 million. Key customers include the United Kingdom Ministry of Defence, United States Navy and other global militaries. The United Kingdom Ministry of Defence (MoD) has contracted CAE Aircrew Training Services plc to perform major upgrades on two of the CH-47 Chinook full-mission simulators located at CAE's Medium Support Helicopter Aircrew Training Facility (MSHATF) at Royal Air Force Station Benson. The investment being made by the UK MoD in these upgrades will provide a significant enhancement to operational training and mission rehearsal capabilities for Royal Air Force (RAF) CH-47 Chinook aircrews. The United States Navy has contracted CAE USA to perform major upgrades on two MH-60S operational flight trainers located at Naval Air Station (NAS) North Island. CAE will provide a range of simulator upgrades, including the addition of simulation software to support training for organic airborne mine countermeasures (OAMCM). The MH-60S helicopter is used by the U.S. Navy for airborne mine countermeasures, combat search and rescue, anti-surface warfare, and carrier plane guard. |
CAE Places Senior Notes Valued At Approximately $120 Million
June 8, 2009 |
| CAE announced that it has issued senior notes for CAD15 million and USD105 million by way of a private placement. The notes are issued to two institutional investors, for an average term of 8.5 years and a 7.15% average blended interest rate. Of the total proceeds, USD60 million will be used to pay maturing notes under the 1997 Note series, with the balance of proceeds to be used for general corporate purposes. |
CAE To Pay Dividend of $0.03 Per Share; To Cut 10% Staff
May 14, 2009 |
| CAE announced that it will pay a dividend of $0.03 per share on June 30, 2009 to shareholders of record at the close of business on June 15, 2009. The Company also announced that it is taking exceptional actions which will be concentrated in two phases - the first of which is already underway. Overall, it will be laying off 700 of its 7,000 employees, which represents 10% of its workforce: 380 in the coming weeks and the balance in the fall. All employees affected will be advised in the coming days. Approximately 600 out of the 700 employees affected are based in Montreal where we produce our civil simulators. The rest are based in other locations around the world. Included in the layoffs are 70 management positions. |
CAE Announces Contract For Two Full-Flight Simulators
May 13, 2009 |
| CAE announced that it has signed contracts to design and manufacture two full-flight simulators (FFS) and associated CAE Simfinity training devices for Lufttransport AS and an undisclosed customer from the MENA region (Middle-East and North Africa region). These contracts are valued at approximately CDN$25 million at list price and include the first two FFS sales that CAE has announced for fiscal year 2010. Lufttransport AS, a Norway-based airline has purchased a CAE 5000 Series Beech King Air B200 FFS. The CAE 5000 Series Beech King Air B200 FFS will be delivered in early 2010 to Lufttransport. The contract with the undisclosed customer from the MENA region is for a CAE 5000 Series A320 FFS and CAE Simfinity Airbus Pilot Transition (APT) trainers for the A320, A330 and A340 aircraft. The equipment will be delivered later this year. |
CAE Closes Acquisition Of Xwave Defence, Security and Aerospace Division From Bell Aliant Regional Communications Income Fund
May 4, 2009 |
| CAE and Bell Aliant Regional Communications Income Fund announced that CAE's acquisition of Bell Aliant's Defence, Security and Aerospace (DSA) business unit, operated by the xwave division of Bell Aliant Regional Communications, Limited Partnership, has been completed. xwave's DSA division supplies real-time software and systems for simulation, training, defence, and integrated lifecycle information management for the aerospace and defence industries. |
CAE And HAL Finalize Contracts And Financing To Establish CDN$60 Million Helicopter Training Centre In Bangalore, India
March 23, 2009 |
| CAE announced that a joint venture of Hindustan Aeronautics Limited (HAL) and CAE have finalized all necessary contracts and non-recourse financing to begin construction and development of a new CDN$60 million (INR240 crore) helicopter training centre in Bangalore, India. The Helicopter Academy to Train by Simulation of Flying (HATSOFF), the joint venture equally-owned by HAL and CAE, has secured long-term, non-recourse financing to support the development of the HATSOFF Helicopter Training Centre. HATSOFF will have a CAE-built full-mission simulator featuring CAE's revolutionary roll-on/roll-off cockpit design, which enables cockpits representing various helicopter types to be used in the simulator. HATSOFF expects to begin training at a new purpose-built facility in the second half of 2010. When fully operational, HATSOFF will be able to train up to 400 helicopter pilots each year and expects to generate annual revenues of up to approximately CDN$20 million (INR80 crore). |
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