CAE establishes Southeast Asia operations in Singapore to expand military business
October 14 2008 - 6:00AM
Marketwired
(NYSE: CGT)(TSX: CAE) - CAE announced today that the company has
established CAE Singapore operations to serve the military market
in Singapore and throughout Southeast Asia. In addition, to
accelerate this expansion in Southeast Asia, CAE also announced it
has signed an agreement to acquire KESTREL Technologies Pte Ltd., a
technology and services company based in Singapore; the transaction
is expected to close this month.
"Singapore has earned its global reputation as a country at the
forefront of technology and innovation, and Singapore's Ministry of
Defence is a leading advocate in the use of simulation-based
training to ensure mission readiness," said Marc Parent, CAE's
Group President, Simulation Products and Military Training &
Services. "By establishing CAE Singapore, we will create a regional
modelling and simulation centre of excellence, and consolidate
CAE's local Singaporean presence with a strategic view to expand
and better serve the military markets in the Southeast Asia
region."
KESTREL, which employs 13 people and has revenues of
approximately C$1 million, currently provides consulting and
professional services, and provides simulator maintenance and
technical support services on behalf of CAE on Super Puma and CH-47
Chinook full-mission helicopter simulators operated by the Republic
of Singapore Air Force. CAE Singapore will now expand on these
service offerings to include program management, systems and
software engineering, and research and development. In addition,
CAE Singapore will now focus on new market segments such as
unmanned aerial systems (UAS), network centric warfare, common
databases and distributed mission training.
"Becoming part of one of the world's premier simulation
companies with a strategic intent to grow its Singapore and
Southeast Asia operations is very exciting for KESTREL," said
Adrian Yeo, founder of KESTREL and now Managing Director of CAE
Singapore. "CAE will now be able to serve Singapore's Ministry of
Defence locally with the full suite of CAE offerings while
leveraging the highly educated and skilled workforce in the local
market to support CAE's research and development and growth
initiatives."
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
Contacts: CAE contacts: Nathalie Bourque, Vice President, Public
Affairs and Global Communications 514-734-5788
nathalie.bourque@cae.com Trade media: Chris Stellwag, Director,
Marketing Communications, Simulation Products and Military Training
& Services 813-887-1242 chris.stellwag@cae.com Investor
relations: Andrew Arnovitz, Vice President, Investor Relations and
Strategy 514-734-5760 andrew.arnovitz@cae.com
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