CAE wins range of training contracts worth $120M
Company reels in new work for U.S. Army drone program, U.S. Navy
MONTREAL—Canadian training and simulator firm CAE Inc. has disclosed a range of new contracts valued at more than $120 million.
The U.S. Air Force, the U.S. Navy and the Austrian Armed Forces are among the key clients the company announced new contracts with Sept 13.
Under the agreements, CAE will provide training services for U.S. Air Force personnel piloting MQ-1 Predators and MQ-9 Reapers. Meanwhile, the Montreal-based company’s simulator team will perform upgrades on the U.S. Navy’s MH-60 Seahawk simulator, as well as install a system upgrade for Austria’s command and staff training system over the next year.
One of the bright spots emerging in Montreal’s aerospace industry this year, strong financial results have bolstered investor confidence in the company. CAE is trading up close to 20 per cent year-to-date.