Minister Paradis Commends Canadian Aerospace Industry at Farnborough International Airshow 2012

OTTAWA, ONTARIO--(Marketwire - July 13, 2012) - The Honourable Christian Paradis, Minister of Industry, congratulated the Canadian aerospace industry for its strong presence at Farnborough International Airshow 2012. Owing to their ingenuity, innovative capacity and stellar international reputation, Canadian companies announced more than $2.5 billion in new and projected business during the show.

"Canada's performance at this year's event was impressive as usual," said Minister Paradis. "By combining our diverse talent and advanced manufacturing strength with our world-leading investment climate, Canada once again showed that it is a front-runner in the global aerospace industry."

While at the Farnborough Airshow, Minister Paradis met with key international aerospace stakeholders to promote Canada as an attractive destination for aerospace investment and highlighted the extensive technological capabilities of Canadian aerospace firms.

Highlights from the show include the following:

• Bombardier secured a conditional order for 5 CS100 aircraft and 10 CS300 jetliners, at a value up to approximately US$1.02 billion. In addition, Latvia-based Air Baltic Corporation (airBaltic) signed a letter of intent with Bombardier to acquire 10 CS300, along with purchase rights to a further 10 of the airliners. At a value of up to approximately US$1.57 billion, this opportunity represents an important breakthrough in the European market for Bombardier. The company also received a firm order from Nova Scotia-based Chorus Aviation Inc. for six Q400 NextGen airliners of the 15 options it holds, valued at approximately US$189 million. (All values based on list prices.)
• AV&R Vision & Robotics received an order from GE Aviation for advanced robotic finishing technologies valued at more than $2 million. These systems will be deployed in plants located in Canada and the United States.
• Esterline CMC Electronics' GPS Landing Systems Sensor was selected by Transaero Airlines and Qantas Airways to equip 23 Boeing 737 aircraft and 4 Boeing 737 aircraft, respectively.
• Cassidian, ITT Exelis and the European Aeronautic Defence and Space Company (EADS) North America signed a Memorandum of Understanding and will work together to provide enhanced electronic warfare solutions. This agreement will help Cassidian grow in new markets.
• Aéro Montréal, Quebec's aerospace cluster representative, signed a strategic collaboration agreement with the Pacific Northwest Aerospace Alliance. This initiative will create excellent opportunities for Quebec's aerospace industry through increased exchange of information and expertise.
• The National Research Council of Canada and EADS renewed their collaboration in research and technology for a five-year term. This furthers their collaboration into other areas of mutual interest such as space, defence and security, and new environment technologies.

A flagship event for the aerospace and aviation industries, the Farnborough International Airshow, held in Farnborough, England, and taking place from July 9 to 15 this year, is attended by companies from around the world.