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UPDATE 1-CAE wins C$90 mln maintenance training contract
May 17, 2010 / 1:54 PM / 7 years ago

UPDATE 1-CAE wins C$90 mln maintenance training contract

* Lockheed Martin contract for Canadian Air Force aircraft

* Team to be trained to maintain Hercules transport planes

* Follows on contract to train aircrew

TORONTO, May 17 (Reuters) - Flight simulator and aviation training company CAE Inc (CAE.TO) said on Monday it won a C$90 million ($87.4 million) aircraft maintenance training contract from Lockheed Martin (LMT.N) for the Canadian Air Force’s new fleet of 17 CC-130J Hercules transport planes.

The contract is in two phases and extends out until 2016. The company said it would create about 70 jobs, around 20 of them permanent.

Last year the government of Canada awarded Montreal-based CAE a contract for aircrew training on the Hercules planes.

“We are honored to be selected for the overall design, production, and long-term support of a CC-130J aircraft maintenance technician training capability that, combined with the CC-130J aircrew training solution we are developing, will play a key role in helping prepare our Canadian Forces to fly, maintain, and support Canada’s new fleet of Super Hercules aircraft,” Martin Gagne, CAE’s Group president for military products, training and services, said in a release.

$1=$1.03 Canadian Reporting by John McCrank, editing by Dave Zimmerman

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