CAE signs Finnish, French and Hellenic Navies as New Customers; selected by Korea for New Business
Toronto, August 2, 2002 (NYSE: CGT; TSX: CAE) – CAE, a world leader in the design of marine control systems and training solutions, today announced it has signed contracts with three new customers: the Finnish, French and Hellenic Navies. A number of other contracts have also been awarded to CAE’s Marine Controls Division. Total new business for CAE is approximately C$20 million. CAE’s control systems have also been selected by the Korean Navy, a repeat customer.
‘Our market and technological leadership in the area of control systems for warships is reinforced by the recognition of these important customers,’ said Rashid Khan, Executive Vice-President, Marine Controls, CAE.
CAE’s control or automation systems enable marine engineers to control and monitor a vessel’s machinery and emergency operation systems from several shipboard locations.
The Finnish Navy has purchased an automation system for the Hamina-class Fast Attack Craft in its Squadron 2000 programme. CAE will supply the automation system for the new vessel being built at Aker Finnyards and has also been selected for a planned upgrade of the automation system on the existing Hamina Class vessel.
CAE was awarded a contract to provide its platform management system for control and monitoring of the French Navy’s new Mistral-class Landing Helicopter Dock—a 21,500-ton amphibious assault vessel. The helicopter carrier is designed to support both helicopter operations and vertical take off aircraft, such as the Joint Strike Fighter.
The Hellenic Navy has awarded a contract to CAE for a safety control system for their Rolls Royce Olympus Gas Turbine Engines on their Elli Class (ex-Kortnaer) frigates. The Hellenic Navy has eight 3,000-ton frigates in its Elli Class.
CAE’s Integrated Platform Management System (IPMS) has also been selected for a fourth military-class ship by the Korean Navy. This time, CAE’s leading control system will be installed on Korea’s new LPx Landing Platform Vessel. CAE’s IPMS technology will be used to monitor and control the platform machinery of the ships, including propulsion, electrical, damage control and auxiliary machinery and systems. It also provides advanced automation for enhanced operational effectiveness and survivability of the ships.
A number of other contracts have been awarded to CAE’s Space Systems group, Power Systems and Simulation group, Marine Systems group and to CAE Valmarine – all part of CAE’s Marine Controls Division.
CAE is a global leader in providing advanced simulation and controls equipment and integrated training solutions for customers in the civil aviation, military and marine markets. With annual revenues in excess of $1 billion, CAE employs more than 6,000 people in Canada, the United States and around the globe.