Strong simulator sales boosts CAE
Results CAE has posted a 20% gain in third quarter revenue to C$331 million on the back of strong simulator sales (see graph). Chief executive Robert Brown says the results reflect CAE's "renewed competitive position and our improved profitability". Healthy conditions in the industry at large mean the Canadian company has a number of growth opportunities, he adds. CAE's simulator divisions both saw growth. Civil income rose 50.5% year-on-year to C$15.5 million and military 80% to C$11.2 million, while civil and military simulator sales rose 46.2% and 27%, respectively, to C$92.1 million and C$105 million.
Sex court case hits Curtiss-Wright
Ruling Curtiss-Wright's full-year and fourth quarter performance has taken a hit after the US-based manufacturer lost a sex discrimination case brought by a female former employee. The company was forced to set aside a $6.5 million reserve for the verdict. Operating income for 2006 rose just 2% to $140.6 million from $138 million in 2005, which included a one-off gain from a property transaction. Curtiss-Wright is planning to appeal against the verdict. The former employee is claiming that she was fired after bringing a lawsuit against the manufacturer because she believed she had been passed over for a promotion because of sex discrimination.
Aeroman sold to ACTS
Purchase ACTS, the maintenance unit of Air Canada parent ACE Aviation, has completed its acquisition of 80% of Grupo TACA's aircraft maintenance division Aeroman. Based in El Salvador, Aeroman employs a workforce of about 1,000 and is a founding member of the Airbus MRO Network. Its major clients include Grupo TACA, JetBlue Airways and US Airways. Following the deal the two maintenance firms will continue to operate as independent business units.
EADS sells Embraer stake
Strategy EADS is pledging to continue industrial co-operation with Embraer despite selling its 2.12% stake in the Brazilian manufacturer for €124 million ($162 million). Changes in the Brazilian manufacturer's shareholder structure had left the stake as "a pure financial investment" and EADS had earmarked it for sale as part of its drive to focus on "core matters and projects that will provide future growth opportunities".Chief executives Tom Enders and Louis Gallois add that: "Brazil and Latin America are important markets and we will continue to strengthen our industrial presence in the region." EADS is involved in other Brazilian projects in the space, helicopter and digital telecom sectors, and the company says the sale does not rule out exploring further industrial co-operation in future with Embraer.
Goodrich yet to decide on eastern Europe
Clarification Goodrich has asked us to point out that the company has not decided whether to establish a facility in eastern Europe, although it is considering basing a factory in the Czech Republic that could manufacture up to 360 undercarriages a year (Flight International, 6-12 February).
Source: Flight International
