Oct. 26, 2010, Ottawa - Tony Clement, minister of
industry, announced Oct. 25 a repayable investment of $ 18.6 million
from the Strategic Aerospace and Defence Initiative (SADI) program to
Mechtronix Systems Inc.
This will allow Mechtronix to launch a $60 million investment in R&D over a period of 5 years; the aim is to increase R&D capabilities and offer new technologies for game-changing flight simulator training products. This project was named NOVA after the word “innovation” which is at the core of Mechtronix philosophy and culture. With the funding, Mechtronix will continue to offer the most innovative flight simulation solutions to the aerospace industry reinforcing their position on the market. These developments will also lead to the creation of new job opportunities in the R&D department.
“Mechtronix is a key player in the Canadian aerospace industry; it is very important to invest in such innovators and enable them to keep developing flight training solutions”, explained the Honourable Tony Clement, Minister of Industry. “This funding will allow Mechtronix to increase their in-house R&D capabilities and continue to strengthen their worldwide presence.”
“We are very grateful to the Canadian Government showing once again their constant support and trust in our sector and more especially in our R&D capabilities,” added Fernando Petruzziello, CEO and Chairman of MWC. “Our global expansion, including in emerging markets, led us to be considered as an established player in the aviation training and simulation market; it is therefore essential that we lead the way by exceeding the current industry standards and providing the latest technology to meet the market’s needs. The NOVA project will allow us to continue to develop and offer cutting-edge technology assisting our worldwide customer base for proficient and safer pilots.”
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