Business New Brunswick / Office of the Premier

Province, CAE sign technology agreement (10/06/30)

NB 1122

June 30, 2010

Multimedia

FREDERICTON (CNB) - The provincial government and CAE, a world leader in modelling, simulation and training solutions for civil and defence markets, have agreed to work together to bring new contracts and jobs to advanced learning and technology companies in New Brunswick.

Premier Shawn Graham and CAE President and CEO Marc Parent announced the agreement today at the National Research Council of Canada Institute for Information Technology Institute for Information Technology Building in Fredericton.

"I am thrilled to support this global company as it expands its presence in New Brunswick," said Graham. "We believe CAE will act as a significant anchor company to solidify our growing advanced learning sector, creating new, high-skilled jobs and propelling the industry forward into the future."

Under the agreement, CAE will establish an office in Fredericton and commit to delivering $15-million in contracts over three years; these contracts are expected to create the equivalent of up to 45 full-time positions in New Brunswick. In exchange, the provincial government is providing CAE a loan of up to $500,000, which will be forgiven based on delivery of the contracts.

The work that CAE will be providing in New Brunswick will be related to major contracts awarded to the company during the last two years by the federal government for C-130J aircrew training and CH-147F aircrew training. CAE's work in the province will also be related to a contract awarded to company earlier this year by Lockheed Martin Corp. for a comprehensive C-13OJ aircraft maintenance technician training solution for the federal government.

CAE already has employees at Canadian Forces Base Gagetown. Earlier this year, CAE launched its new multi-crew pilot licence program at the Moncton Flight College. The flight college, based in Dieppe, is a member of the CAE Global Academy, a worldwide alliance of flight schools.

"We are very pleased to participate with the Government of New Brunswick in this program, which will provide highly skilled jobs to the advanced learning sector," said Parent. "This alliance will help develop opportunities in the field of aviation simulation technologies and training."

Headquartered in Canada, 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. It has annual revenues exceeding $1.5 billion and employs more than 7,000 at 100 sites and training locations in more than 20 countries.

10/06/30

MEDIA CONTACTS: Ashley Bursey, communications, Business New Brunswick, 506-461-0942, ashley.bursey@gnb.ca; Nathalie Bourque, vice-president, public affairs and global communications, CAE, 514-734-5788, nathalie.bourque@cae.com.

10/06/30