|By Marketwired .||
|February 27, 2014 09:08 AM EST||
SAINT-LAURENT, QUEBEC -- (Marketwired) -- 02/27/14 -- Industry Canada
Denis Lebel, Minister of Infrastructure, Communities and Intergovernmental Affairs and Minister of the Economic Development Agency of Canada for the Regions of Quebec, on behalf of Industry Minister James Moore, announced a $250-million investment in CAE Inc.'s latest project to develop new simulation technology for its next-generation civilian and military aircraft flight simulators. This repayable contribution from the Government of Canada, made through the Strategic Aerospace and Defence Initiative (SADI), will allow CAE to continue making substantial research and development (R&D) investments in its world-leading technology.
-- Canada's aerospace and defence industries employ more than 170,000 highly skilled workers across the country and contribute $27 billion to our economy every year. -- The $250-million repayable contribution will enable CAE to update and modernize its flight simulation software. CAE will be developing new technology that the military can use to simulate missions and train its forces at lower costs. -- One hour of training in a simulator saves anywhere from 7,500 to 14,000 litres of fuel, reduces carbon and noise emissions, and prolongs an aircraft's lifespan by as much as 15 percent. -- SADI helps companies develop new technologies, attract and retain highly skilled workers, and collaborate with universities and colleges.
"This support will help CAE to reinforce its position as a global leader in its field. This project will allow the company to maintain and grow its presence in Canada while also benefiting CAE's vast network of Canadian collaborators, including universities, research institutions and suppliers."
- James Moore, Minister of Industry
"Our government understands the important role the aerospace industry has in the Canadian economy, which is why we renewed the Strategic Aerospace and Defence Initiative. By investing in the R&D of CAE's next-generation simulation technologies, our government is helping to ensure that Canada's aerospace industry remains a world leader, creating jobs and opportunities."
- Denis Lebel, Minister of Infrastructure, Communities and Intergovernmental Affairs
- Speech (insert hyperlink)
Office of the Minister of Industry