PROVIDENCE – Textron Inc. has reached an agreement to sell elements of its subsidiary Tru Simulation + Training Inc. to CAE Inc. for $40 million in cash considerations, the company announced Wednesday.
The sale would include Tru Simulation + Training Canada Inc., including its Montreal manufacturing operations, as well at ETOPS entities in France and Malaysia and a minority interest in a joint venture in Iceland, the company said.
The deal is expected to close in the fourth quarter of 2020 or early 2021.
Textron will retain TRU Simulation + Training Inc. and its operations in Tampa, Fla., which will continue to focus on development of simulators for Textron Aviation and rotorcraft platforms.
The businesses being sold operate as part of the Textron Systems segment.
CAE is a technology company headquartered in Montreal, Canada.
