CAE sells its Belgian wedge wire manufacturing unit
CAE has agreed to sell all the shares of its Belgian wedge wire manufacturing operations, CAE Trislot, to Falcon Fund 307 million Belgian Francs.
TORONTO, May 9, 2001 — CAE today announced that it has concluded an agreement to sell all the shares of its Belgian wedge wire manufacturing operations, CAE Trislot, to Falcon Fund. The purchase price, paid in cash, was 307 million Belgian Francs (C$10.4 million).
CAE Trislot, located in Waregem, Belgium, was acquired in January 1995. Prior to completing the divestiture, CAE integrated the forestry elements of the business with its Finnish operations. The business manufactures wedge wire filtering and separation products for the food and beverage, petrochemical and wastewater treatment industries.
"This transaction underscores our strategy of focusing on core businesses," said Derek H. Burney, President and CEO of CAE. "We thank the employees of Trislot for their dedication and commitment while part of CAE."
"Trislot is a profitable and well-respected company operating internationally in a niche market. This investment fits our criteria perfectly and we are pleased to assist Trislot in its further growth," said Luc Loose, Managing Director of Falcon Fund.
CAE is a provider of simulation and control technologies for training and optimisation solutions in the Aerospace, Defence and Forestry sectors.