Ottawa makes $250-million investment in Montreal-based simulator maker CAE

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A television cameraman shoots footage of the CAE headquarters in Montreal on May 14, 2009. THE CANADIAN PRESS/Paul Chiasson

MONTREAL – Flight simulator company CAE has received a $250 million repayable investment from Ottawa.

The goal of the five-year program is to help Montreal-based CAE develop its next generation of simulation platforms.

CAE flight simulators are used around the world to train airline and military pilots and cockpit crews.

The company (TSX:CAE) also provides other training equipment and services for the civil aviation and defence markets.

The federal contribution was announced by Denis Lebel, the minister responsible for economic development in Quebec.

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