CAE to invest C$714 million in research and development
31 3월 2009 - 11:24PM
Marketwired
(TSX: CAE)(NYSE: CGT) CAE announced today that it will invest up to
C$714 million in Project Falcon, a research and development
(R&D) program that will span five years. The goal of Project
Falcon is to expand CAE's current modelling and simulation
technologies, develop new ones and increase its capabilities beyond
training into other areas of the aerospace and defence market, such
as analysis and operations.
The Government of Canada will participate in Project Falcon
through a repayable investment of up to $250 million. This
investment is being made through the Strategic Aerospace and
Defence Initiative (SADI), which supports strategic industrial
research and pre-competitive development projects in the aerospace,
defence, space and security industries.
"Innovation is essential for CAE in order to sustain its
leadership position in modelling, simulation and training. We will
therefore, continue to invest in R&D, even in these challenging
times," said Robert E. Brown, President and Chief Executive Officer
of CAE. "This new Project Falcon will allow us to continue
diversifying our revenue base by leveraging our core technologies
into adjacent segments."
Project Falcon will focus on applying investments into six main
technology thrusts. Among these will be the development of an
augmented visionics system-a technology enabling a pilot to take
off and land safely even when visibility outside the cockpit is
restricted. CAE will expand its research and development
initiatives in its traditional training markets, including
simulation and modelling for new types of aircraft, unmanned
vehicles and replacement models for current aircraft. CAE will also
develop networking technologies to allow defense forces of many
nations to participate simultaneously in real time training and
mission rehearsal exercises.
Through the course of the program, approximately 1,000 jobs will
be created or maintained. CAE will carry out Project Falcon in
Canada, utilizing its R&D laboratories, and test and
integration facilities in Montreal. CAE's highly skilled workforce
will continue to partner with universities and key research
organizations in Canada, as well as innovative small and
medium-sized suppliers across the country.
CAE is a world leader in providing simulation and modelling
technologies and integrated training solutions for the civil
aviation industry and defence forces around the globe. With annual
revenues exceeding C$1.4 billion, CAE employs approximately 7,000
people at more than 75 sites and training locations in 20
countries. We have the largest installed base of civil and military
full-flight simulators and training devices. Through our global
network of 27 civil aviation and military training centres, we
train more than 75,000 crewmembers yearly. We also offer modelling
and simulation software to various market segments and, through
CAE's professional services division, we assist customers with a
wide range of simulation-based needs. www.cae.com.
High resolution photos of the event with the Honourable Tony
Clement, Minister of Industry at CAE will be available later today
at www.cae.com/photos.
Contacts: CAE contacts: Nathalie Bourque, Vice President, Public
Affairs and Global Communications 514-734-5788
nathalie.bourque@cae.com Investor relations: Andrew Arnovitz, Vice
President, Investor Relations and Strategy 514-734-5760
andrew.arnovitz@cae.com
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