Montreal, Canada, October 1, 2015 – (NYSE: CAE; TSX: CAE) – CAE today announced that it has closed the acquisition of Bombardier’s Military Aviation Training business for C$19.8 million. All the required conditions and regulatory approvals have been obtained and the transaction has been concluded.
This acquisition significantly strengthens CAE’s core capabilities as a training systems integrator (TSI) globally, and further expands its offering into support for live flying training of future military pilots, including next-generation fighter pilots, for the Royal Canadian Air Force and its allies. CAE becomes the prime contractor responsible for the NATO Flying Training in Canada (NFTC) program that produces qualified military pilots for defence customers. The 200 employees located in Moose Jaw, Saskatchewan, and Cold Lake, Alberta, become CAE employees as of today.
“We are pleased to welcome the team supporting the NATO Flying Training in Canada program to CAE,” said Gene Colabatistto, CAE’s Group President, Defence & Security. “The closure of this NFTC program acquisition follows the recent competitive win in the USA to deliver the Army Fixed Wing pilot training program, another full training system including live aircraft. Together, these programs are accelerating the advancement of CAE’s training systems integration capability and overall strategy.”
About the NFTC program
CAE is a global leader in delivery of training for the civil aviation, defense and security, and healthcare markets. We design and integrate the industry’s most comprehensive training solutions, anchored by the knowledge and expertise of our 8,000 employees, our world-leading simulation technologies and a track record of service and technology innovation spanning seven decades. Our global presence is the broadest in the industry, with 160 sites and training locations in 35 countries, including our joint venture operations, and the world’s largest installed base of flight simulators. Each year, we train more than 120,000 civil and defense crewmembers, as well as thousands of healthcare professionals. www.cae.com