CAE and Brunei to Establish JV Company to Develop Multi-Purpose Training Centre in Brunei

18 April 2012

The joint venture company, owned 60 per cent by CAE and 40 per cent by the Brunei Ministry of Finance. The training services will be provided on the following platforms: Sikorsky S-70i Black Hawk helicopter; Pilatus PC-7; and Sikorsky S-92 helicopter. (photo : aionline)

Montreal, Canada – (NYSE: CAE; TSX: CAE) – CAE and the Ministry of Finance of Brunei Darussalam (MOFB) today announced that they have signed a shareholders agreement under which a joint venture company, owned 60 percent by CAE and 40 percent by the Brunei Ministry of Finance, will be established to develop and operate the CAE Brunei Multi-Purpose Training Centre (MPTC) in Brunei Darussalam.

The CAE Brunei MPTC also announced it has signed long-term training services contracts valued at approximately C$170 million for CAE. The training services will be provided on the following platforms:

• Sikorsky S-70i Black Hawk helicopter;

• Pilatus PC-7; and

• Sikorsky S-92 helicopter.

The CAE Brunei Multi Purpose Training Centre is an example of Brunei leveraging on its strengths to diversify and grow new knowledge-based industries, while creating high-quality jobs for the Bruneians. The Government of Brunei is looking forward to working very closely with CAE and other stakeholders in the development of a world-class training facility in Brunei Darussalam.

The CAE Brunei MPTC to be located in Rimba near the Brunei International Airport, will be constructed initially with five simulator bays along with supporting classrooms and additional infrastructure. The facility is expected to be completed by spring 2014 when S-92 and PC-7 training is scheduled to begin.

“The CAE Brunei Multi-Purpose Training Centre will undoubtedly become a training centre of excellence for the entire Southeast Asia region,” said Martin Gagné, CAE’s Group President, Military Products, Training and Services. “We are pleased and honoured the Government of Brunei has placed their trust and confidence in CAE to deliver a world-class training facility that will ultimately enhance safety, security, efficiency and productivity for the Nation of Brunei.”

(CAE)