Textron subsidiary TRU Simulation + Training Canada has reached an agreement to sell its non-U.S. businesses to Canada-based training solutions company CAE. According to Textron, the $40 million deal includes TRU’s manufacturing operations in Montreal, Canada, ETOPS entities in France and Malaysia and a minority interest in a joint venture in Iceland. TRU Simulation + Training will be keeping its operations in Tampa, Florida.
“We look forward to integrating the TRU Canada business within CAE,” said CAE CEO Marc Parent. “This acquisition demonstrates our ability to bolster our position and expand our addressable market and our global customer base during this unprecedented period of disruption.”
The deal is expected to close during the fourth quarter of 2020 or early 2021. CAE also announced last week that it had acquired Amsterdam-based Flight Simulation Company (FSC) for approximately €70 million ($83 million). CAE, which reports that it currently has approximately 10,000 employees, 160 sites and locations in over 35 countries, offers training solutions for the civil aviation, defense and security, and healthcare markets.