From the Wires
The Caisse invests $50 million in CAE
By: PR Newswire
Dec. 27, 2012 02:33 PM
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."
ABOUT THE CAISSE DE DÉPÔT ET PLACEMENT DU QUÉBEC
SOURCE CAISSE DE DEPOT ET PLACEMENT DU QUEBEC
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