CAE Inc. (CAE) has received a series of military contracts worth
more than C$100 million (US$92 million) from Eurocopter, Airbus
Military and L-3 Communications Holdings Inc. (LLL).
The Montreal company will perform major upgrades for Eurocopter
on two CAE-built CH-53 full-flight simulators operated at a German
Army aviation school. The contract is part of an upgrade program
Eurocopter is performing for the German Army. CAE's simulator
upgrades are expected to be complete by the end of 2011.
CAE has also received contracts from prime contractor Airbus
Military to provide A330 Multi-Role Tanker Transport training
devices to the United Arab Emirates and Royal Saudi Air Force. CAE
will design and make an A330 MRTT part-task trainer and CAE
Simfinity integrated procedures trainer for each customer.
For L-3's MAS (Canada) Inc. subsidiary, CAE will continue to
provide avionics software upgrades, integrated logistics support
and data management services for the Canadian Forces CF-18
aircraft. The new contract has a one-year term.
When the flight-simulation equipement and training provider
released first-quarter results earlier this month, it noted that
strong results from its military operations had offset a lower
performance by its civil operations.
In Toronto Tuesday, CAE closed at C$8.47, up 2.8%.
-By Judy McKinnon, Dow Jones Newswires; 416-306-2100;
judy.mckinnon@dowjones.com