Montreal, September 29, 2004 – (NYSE: CGT; TSX: CAE) – CAE’s marine division has signed contracts with a number of commercial marine customers around the world for a total value of more than C$16 million.
In the largest of the contracts, CAE has been selected by Croatia’s Brodosplit Shipyard to supply both CAE DamaticTM automation systems as well as an integrated navigation system with voyage data recorders and bridge consoles for six P-MAX tankers contracted by STENA. CAE Damatic automation systems enable a single crewman to have full control of all shipboard machinery and equipment. They are highly reliable, guaranteeing uninterrupted operations even in the event of system failure. The integrated navigation system that CAE is to provide is an enhancement of systems previously supplied to STENA, and will set a new standard in commercial ship safety. Final delivery of the automation and navigation systems is scheduled for the summer of 2007.
In addition, longtime CAE customer Fincantieri of Italy has awarded CAE a contract to provide a machinery automation system (MAS) for its Ro-Ro passenger ferries, destined to sail in the Mediterranean. Installation of the equipment should be complete by April 2005. Prior to this newest contract, CAE had already provided automation systems for 10 cruise liners built by the Fincantieri group.
CAE has also been selected to provide a main engine room remote control and power management system for Color Line Marine’s “Color Festival” cruise ferry, and has been awarded a contract to upgrade the alarm, monitoring and control system of Carnival Cruise’s “Ecstasy” cruise ship.
Furthermore, CAE has signed a contract with Compagnie Navale Française for the turnkey delivery of an upgrade to an existing Damatic alarm and control system aboard the company’s “Pointe du Castel” vessel, with the completion date scheduled for early 2005.
And finally, Norwegian shipbuilder Kleven Verft AS has awarded CAE a contract to provide a dynamic positioning system for its offshore supply vessel, UT 745 E. A dynamic positioning system automatically allows vessels to hold their positions by means of propulsors and thrusters.
CAE’s marine division has supplied advanced automation technology for about 450 commercial ships worldwide and more than 140 warships in 18 navies. The division also provides turnkey training solutions to naval and commercial marine customers, and has three decades of experience designing and manufacturing power-plant simulators.
CAE is a leading provider of simulation technologies and integrated training services for commercial and business aviation, defence, and marine customers worldwide. The company has annual revenues in excess of C$1 billion, with manufacturing operations and training facilities in 19 countries on five continents.