MONTREAL, CANADA--(Marketwired - Oct. 5, 2015) - (NYSE:CAE)(TSX:CAE) - CAE expressed its support for Canada's participation in the Trans-Pacific Partnership (TPP). CAE already has sales, operations or joint ventures in the 12 countries of the Trans-Pacific Partnership (Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, the United States and Vietnam) including training centres for civil aviation and defence & security or flight academies which train cadets to develop them into first officers.
"The market covering the TPP countries is very important for CAE's business and we therefore applaud the signature of the TPP," said Marc Parent, President and Chief Executive Officer of CAE. "The TPP will consolidate trade relationships between Canada and these countries and open up markets further. For a company like CAE, headquartered in Canada, but which derives 93% of its revenues from outside Canada, the TPP represents a great opportunity to be well-positioned to benefit from the growing markets of the 12 countries covered by the TPP."
Earlier today the Government of Canada announced that the members of the Trans-Pacific Partnership (TPP) have successfully concluded negotiations on a free trade agreement. The TPP currently comprises 12 countries: Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, the United States and Vietnam. Together, these countries represent a market of nearly 800 million people and a combined GDP of $28.5 trillion.
About CAE
CAE is a global leader in delivery of training for the civil aviation, defence and security, and healthcare markets. We design and integrate the industry's most comprehensive training solutions, anchored by the knowledge and expertise of our 8,000 employees, our world-leading simulation technologies and a track record of service and technology innovation spanning seven decades. Our global presence is the broadest in the industry, with 160 sites and training locations in 35 countries, including our joint venture operations, and the world's largest installed base of flight simulators. Each year, we train more than 120,000 civil and defence crewmembers, as well as thousands of healthcare professionals. www.cae.com
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