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CAE Closes FY 2013 with $128M in Training Contract Wins; Gene Colabatistto Comments

Gene Colabatistto
Gene Colabatistto

CAE (NYSE: CAE) won approximately $128 million in contracts during the last month of its 2013 fiscal year from U.S. and international military customers for trainer products and related services.

One of those wins came via an option from Lockheed Martin (NYSE: LMT), where CAE will design and build a weapon systems trainer for the U.S. Air Force‘s C-130J aircraft, CAE said Wednesday.

CAE’s other contract wins for the month came from the U.S. Navy and the U.S. Army Corps of Engineers to support foreign military sales agreements.

“Our position on key platforms such as the C-130J and MH-60 helicopters continues to provide a range of opportunities globally, including foreign military sale contracts through the United States government, ” said Gene Colabatistto, CAE group president for military products, training and services.

The company will build an MH-60R avionics maintenance trainer and weapons load trainer for Australia and delivery of those systems is set for 2015.

Under the option from Lockheed, CAE will build the system for the U.S. Air Force’s Air Mobility Command to qualify, refresh and distribute mission training.

Delivery of that system is scheduled for 2016.

CAE’s second foreign military sales win for the month covers construction of a training facility under a contract with the Army Corps of Engineers.

There, Kuwait’s air force plans to house a KC-130J mission simulator that the company is building under a separate contract.

Under a fourth contract with the U.S. Air Force, the company will build boom operator weapon systems trainers for the branch’s KC-135 aircraft and incorporate those devices into the overall training program.

The seven-year contract is worth up to $50 million if all options are exercised.

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