CAE and HAL finalize contracts and financing to establish C$60 million helicopter training centre in Bangalore, India
March 23 2009 - 6:00AM
Marketwired
A joint venture of Hindustan Aeronautics Limited (HAL) and CAE
(TSX: CAE)(NYSE: CGT) has finalized all necessary contracts and
non-recourse financing to begin construction and development of a
new C$60 million (Rs 240 crore) helicopter training centre in
Bangalore, India.
The Helicopter Academy to Train by Simulation of Flying
(HATSOFF), the joint venture equally-owned by HAL and CAE, has
secured long-term, non-recourse financing to support the
development of the HATSOFF Helicopter Training Centre. HATSOFF will
have a CAE-built full-mission simulator featuring CAE's
revolutionary roll-on/roll-off cockpit design, which enables
cockpits representing various helicopter types to be used in the
simulator. HATSOFF expects to begin training at a new purpose-built
facility in the second half of 2010. When fully operational,
HATSOFF will be able to train up to 400 helicopter pilots each year
and expects to generate annual revenues of up to approximately C$20
million (Rs 80 crore).
"HATSOFF will serve a critical need for enhancing safety and
mission readiness by offering high-quality simulation-based
helicopter training programs to India and the surrounding region,"
said Marc Parent, CAE's Chief Operating Officer. "We are also
pleased that financial institutions recognize the value of our
business plan and the required training assets, which gives us the
ability to raise non-recourse financing to support our expansion
efforts in India."
Initially, HATSOFF will offer comprehensive training to civil
and military customers operating four helicopter types: the Indian
Army/Air Force variant of the HAL-built Dhruv, the civil variant of
the Dhruv, the Bell 412 and the Eurocopter Dauphin. The training
centre will feature multimedia classrooms, computer-based training,
brief/debrief facilities, and a training management information
system. The CAE-built full-mission simulator for HATSOFF will
feature a common motion system, vibration platform, and visual
display system, and four separate cockpit modules that can be used
in the full-mission simulator. When a cockpit is not used in the
full-mission simulator, it will be used as a fixed-based flight
training device (FTD). The simulator will be certified to Federal
Aviation Administration (FAA) and Joint Aviation Authority (JAA)
Level D, the highest qualification for flight simulators.
"We are excited to be part of the first Level D simulator
training facility to be built in India for helicopter pilots and
maintainers," said Mr. Ashok K Baweja, Chairman, HAL. "HAL is
committed to being India's premier aerospace organization, and part
of that commitment includes enhancing safety and efficiency
throughout the aerospace community. The HATSOFF Helicopter Training
Centre will play a key role in training and producing skilled and
mission-ready crews."
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
Hindustan Aeronautics Limited (HAL) is a premier aeronautical
complex of SE Asia, with 19 production divisions and ten R&D
centres. HAL's expertise encompasses design, production, repair,
overhaul and upgrade of Aircraft, Helicopters, Aero-engines,
Accessories, Avionics and Systems. HAL today provides one stop
solutions for all the design needs of aircraft & helicopters in
airframes, airframe systems, avionics, mission & combat systems
using advanced design tools. The 19 manufacturing divisions of HAL
are equipped with modern infrastructure with modern plant and
machinery for production of fighter aircraft, trainer aircraft and
helicopters. The current workforce is around 35,000 with over 50%
having more than a decade of aircraft industry experience. It has
also diversified into manufacture and repair/overhaul of Industrial
& Marine Gas Turbine engines, and manufacture of structures for
aerospace vehicles. www.hal-india.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 www.cae.com HAL
contacts: Marketing: M Fakruddin, Director Corporate Planning &
Marketing +91 80 22867465 dcpm@hal-india.com Corporate
Communications: Anantha Krishnan M Chief of Media Communications
& Official Spokesperson +91 80 22864934 cmc@hal-india.com
www.hal-india.com
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