Toronto, April 22, 2003 – (NYSE: CGT; TSX: CAE) CAE, a world leader in the design of marine control systems and training solutions, has been selected to supply shipboard control systems for the fourth in a series of KDX-II class destroyers destined for the Republic of Korea Navy (ROKN). List price for similar repeat business is approximately $C6 million.
The award, by prime contractor Hyundai Heavy Industries’ Ulsan shipyard, is for CAE’s widely used Integrated Platform Management System (IPMS), and is the seventh selection of CAE control systems by the Korean navy.
“The ROKN is a long standing customer and this contract certainly reinforces CAE’s position as a key supplier,”said Rashid Khan, Executive Vice President, Marine Controls. “The Korean navy’s continued confidence has played a key role in building our reputation among the world’s largest naval forces.”
The CAE IPMS is the world’s first and leading digital control system for naval ships. The system monitors and controls all of the ship’s platform machinery, such as propulsion, electrical distribution, auxiliaries, steering, and damage control. The IPMS also provides advanced automation for enhanced operational effectiveness and survivability.
CAE is a global leader in the provision of simulation and control technologies and training solutions for marine, aerospace, and defence markets. Headquartered in Canada, CAE employs more than 6,000 people around the world and generates annual revenues in excess of C$1 billion.