The Caisse invests $50 million in CAE
MONTREAL, Dec. 27, 2012 /CNW Telbec/ - The Caisse de dépôt et placement du Québec announced a $50-million investment, in the form of a term loan, in CAE, a global leader in simulation and training services for the aerospace industry.
The Caisse's investment is part of the private financing of approximately $350 million announced earlier today by the company.
"Over the last few years, CAE has diversified its product and service offering to enhance its visibility and competitiveness in international markets," said Marc Cormier, Executive Vice-President, Fixed Income, at the Caisse. "By providing financing to CAE, the Caisse is playing an instrumental role in the success and growth of a Québec company that has been a leader in one of our growth industries."
CAE has customers in more than 190 countries and is recognized today for its cutting-edge flight simulators but also for its customized training programs. It operates in two main market segments: civil aviation and defence. Recently, it has started applying its expertise in the healthcare and mining sectors.
"We are pleased to be able to count on a partner like the Caisse in the pursuit of our activities internationally and in new market segments," said Stéphane Lefebvre, CAE's Vice President, Finance and Chief Financial Officer. "The financing will help maintain our leadership position and give us the flexibility to further strengthen our balance sheet in the periods ahead."
CAE is a global leader in modelling, simulation and training for civil aviation and defence. The company employs close to 8,000 people at more than 100 sites and training locations in approximately 30 countries. CAE offers civil aviation, military, and helicopter training services in more than 45 locations worldwide and trains approximately 100,000 crewmembers yearly. In addition, the CAE Oxford Aviation Academy offers training to aspiring pilot cadets in 11 CAE-operated flight schools. CAE's business is diversified, ranging from the sale of simulation products to providing comprehensive services such as training and aviation services, integrated enterprise solutions, in-service support and crew sourcing. The company applies simulation expertise and operational experience to help customers enhance safety, improve efficiency, maintain readiness and solve challenging problems. CAE is now leveraging its simulation capabilities in new markets such as healthcare and mining. www.cae.com
ABOUT THE CAISSE DE DÉPÔT ET PLACEMENT DU QUÉBEC
The Caisse de dépôt et placement du Québec is a financial institution that manages funds primarily for public and private pension and insurance plans. As at December 31, 2011, it held $159 billion in net assets. As one of Canada's leading institutional fund managers, the Caisse invests in major financial markets, private equity and real estate. For more information: www.lacaisse.com
SOURCE CAISSE DE DEPOT ET PLACEMENT DU QUEBEC