CAE shares tumble on lost contract

Article Abstract:

CAE Inc., a Toronto, Ontario-based manufacturer of airplane training simulators, has lost a European contract worth about C$200 million. The bad news brought CAE's stock falling to C$1.20, or almost 15%, in a matter of 90 minutes since the release of the news. CAE's stock closed at C$8.25 on the Toronto Stock Exchange, during the day when over 828,000 CAE shares have been traded. The European defense contract calls for the manufacturing of pilot training simulators for the British fighter-bomber, Tornado. Industry analysts are thinking that the contract may go to France-based Thomson-CSF.

Comment:

Losts a European contract worth about C$200 mil, bringing the co's to fall 15%, to C$1.20

New orders received, Air Combat Trainers & Simulators, Air combat simulators

---

CAE adds to cleaning division

Article Abstract:

Toronto, Ontario-based CAE Inc., a leading manufacturer of simulation equipment for pilot-training applications worldwide, purchased Aachen, Germany-based Beyss GmbH & Co. KG Maschinen und Anlagenbau. The acquisition deal is another development towards CAE's efforts to establish its operations as a competitor for the international markets for machinery-cleaning equipment. Beyss manufactures automobile-transmission cleaning systems.

Comment:

Purchases Aachen, Germany-based Beyss GmbH & Co. KG Maschinen und Anlagenbau

Asset sales & divestitures, Acquisitions & mergers, Foreign operations, Germany, Trainers & Simulators, All Other Miscellaneous General Purpose Machinery Manufacturing, Machinery Decontaminatn, Clean Eqp, Machinery, Simulators (Training equipment), Cleaning equipment, Beyss GmbH and Co. KG Maschinen und Anlagenbau

---

Similar abstracts:

• Abstracts: Dodge frets over flood of fast money. Central bank's data reliance questioned
• Abstracts: Oshawa Group's Wolfe family at crossroads. Heller leads Zellers to a new retailing style. Shakeup at Oshawa Group
• Abstracts: JPE takes writedown on Ont. plants. Ford Windstar success results in layoffs
• Abstracts: Sutherland leaves Altamira. Melnuk joins Bracknell 3 weeks after leaving Barrick. Former Bracknell head gets $2.5-million sendoff
• Abstracts: Bitove wins appeal on Pearson rent. Airlines play down talks on international routes. Senior CAI executives received 1% raises in 1998

This website is not affiliated with document authors or copyright owners. This page is provided for informational purposes only. Unintentional errors are possible.