Canadian simulator manufacturer CAE is to invest a planned C$630 million ($529 million) in a six-year research and development programme, Project Phoenix, to improve current leading-edge technologies and developing additional ones. The Canadian government is providing 30% of the value of the programme, to be repayed through royalties “over a timeframe reflecting the useful life of the new technologies”. CAE is also in talks with the Quebec government on partnership possibilities.
Project Phoenix will form a key part of the company’s restructuring programme, announced earlier in the year, and will “completely modify CAE’s product lines and its methods of design, development and production”.
“This new R&D programme is vital to CAE’s continued growth,” says Robert Brown, CAE’s president and chief executive.
Source: Flight International
