CAE expands operations in India with acquisition of Macmet Technologies

MONTREAL, July 11 /PRNewswire-FirstCall/ - (NYSE:CGT) (TSX:CAE) - CAE announced today the company has signed an agreement to acquire Macmet Technologies Limited for approximately C$5 million in cash.

Macmet, based in Bangalore, India, is the leading simulation company in India. Macmet has a range of experience designing simulators for air, land, and naval forces.

"The acquisition of Macmet will provide greater access to India's growing market, and provide CAE additional capabilities to offer cost-effective entry-level training devices," said Marc Parent, CAE's Group President, Simulation Products and Military Training & Services. "CAE has a long history serving the Indian market and over the past year has announced plans to open a training centre in Bangalore and run two pilot training schools. By acquiring Macmet, CAE is further demonstrating its commitment to serve both the civil and military markets in India with the world's most comprehensive portfolio of simulation-based products and training services."

Macmet who has 90 employees, has been serving the Indian market with simulation solutions for more than 10 years. The company assembles, repairs and upgrades flight simulators, tank and gunnery trainers and naval tactical trainers, as well as developing software required for simulations. In addition, Macmet has developed constructive simulations for naval wargaming. Some of the recent programs led by Macmet include developing a Cheetah helicopter simulator for the Indian Army, a MiG-27 part task trainer for the Indian Air Force and naval command team trainers for the Indian Navy.

CAE already has approximately 150 engineers in Bangalore, India who are developing visual databases, aircraft systems and instructor support systems software and perform software verification and validation for CAE.

"Becoming part of one of the world's premier simulation and training companies with a global presence and unmatched reputation is very exciting for Macmet," said H.J. Kamath, President, Macmet Technologies. "We will play a key role in CAE's continued expansion in India and look forward to representing the entire breadth and capability of CAE to the Indian defence and aerospace market."

CAE is a world leader in providing simulation and modelling technologies, and integrated training services to the civil aviation industry and defence forces around the globe. We design, manufacture and supply simulation equipment and offer training and services. This includes integrated modelling, simulation and training solutions for commercial airlines, business aircraft operators, aircraft manufacturers and military organizations and a global network of training centres for pilots, and in some instances, cabin crew and maintenance workers.

With annual revenues of over C$1 billion, CAE operates in 19 countries around the world. CAE has sold nearly 700 simulators and training devices to airlines, aircraft manufacturers, training centres and defence forces for air and ground purposes in more than 40 countries. We have over 110 full-flight simulators in more than 20 aviation training centres, serving approximately 3,500 airlines, aircraft operators and manufacturers across the globe. CAE licenses its simulation software to various market segments and has a professional services division assisting customers with a wide range of simulation-based needs.

Source: CAE INC.

Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.