CAE to acquire Lockheed Martin commercial flight training unit
The deal allows CAE to expand its customer installed base of commercial flight simulators.0
CAE of Montreal has concluded a deal with U.S. defence contractor Lockheed Martin to acquire its Lockheed Martin Commercial Flight Training (LMCFT) division. CAE did not specify the details of the transaction.
The acquisition will allow CAE to expand its customer installed base of commercial flight simulators and obtain a number of useful assets including full-flight simulators, simulator parts and equipment, facilities, technology and a talented workforce.
“We look forward to servicing an expanded customer installed base with this relatively small bolt-on acquisition and view positively the opportunity to pick up certain useful assets and to create synergies with our existing business,” said Marc Parent, President and Chief Executive Officer, CAE.
“CAE’s sole focus is training, and with a near 70-year track record, we are the only pure-play company resolutely committed to the long-term training and simulation needs of our customers in Civil, Defence and Healthcare.”
This move is inline with Lockheed Martin’s strategy to focus on its aerospace and defence sectors. The Lockheed division offers CAE full flight simulators for Boeing’s 737, 767, 777 and 787, as well as Airbus’ A320 and A330/340.