Mechtronix World Receives $7 Million in Funding for Expansion from Business Development Bank of Canada



    
           Funds Supports Investment to Expand Montreal R&D Center
       and Double Building Capacity for Flight Simulator Manufacturing
    

    MONTREAL, May 6 /CNW Telbec/ - Mechtronix World Corp., a Quebec based
flight training solutions provider, announced that the Business Development
Bank of Canada (BDC) provided it with a $7 million loan for expansion of its
Montreal facility. The BDC's funding infusion follows a September 2008
investment of $39 million in Mechtronix World by Richardson Capital LTD of
Calgary. Funds were used by Mechtronix World to expand both its Montreal R&D
center and corporate offices to be unveiled May 8 in the presence of Mr.
Raymond Bachand, Minister of Economics Development, Innovation and Export
Trade and Minister responsible for the Montreal region. Funds were also used
to expand manufacturing production capacity by 50%.
    Mechtronix World anticipates that via a series of investments in
production systems and facilities, it is able to double its overall capacity
to build Full Flight Simulators, a leading product line. The expansion gives
Mechtronix World the potential to meet an anticipated growing global demand
for turnkey airlines' flight training centers. Mechtronix World expects a
sustained demand due to the ever increasing pressure on airlines to become
more cost effective. Mechtronix World anticipates that its continued expansion
in growing markets like Asia and the Middle East will continue and be well
served with its new capacity. Since 2004, Mechtronix' revenue and EBITDA has
increased at an annualized rate well in excess of 30% to become the world's
third largest provider of flight simulator equipment.
    "We greatly appreciate BDC's financial support helping Mechtronix World
achieve its goals in terms of local and global expansion in these times of
tight credit," said Fernando Petruzziello, Mechtronix World CEO and chairman.
"With the loan Mechtronix World received from the BDC, Mechtronix World has
vastly improved its capacity and is now able to produce 25 sims a year. This
now enables us to achieve our essential goal of becoming one of the biggest
players in the global flight solutions market. We are very confident that it
is an investment well spent not only in increasing production, but in our and
Canada's most important asset, its people."

    About Mechtronix World Corporation

    Headquartered in Montreal, Mechtronix World Corporation (Mechtronix) is
the fastest growing designer and manufacturer of flight simulators. Backed by
the Caisse de dépôt et placement du Québec, Canada's largest institutional
investor, as well as Richardson Capital Limited, a leading Canadian private
equity firm, Mechtronix ranks as one of the top leaders in the global flight
simulator, with a presence in America, Europe and Asia. Through 20 years of
passion and dedication, Mechtronix has developed a unique expertise and proved
extensively its vision and leadership for flight training. Worldwide customers
include major airlines, training centers and training organizations such as
CAFUC, Copa Airlines, IFTC Istanbul, Japan Airlines, Lufthansa Flight
Training, Oxford Aviation Academy, TACA Airlines and University of North
Dakota. Mechtronix offers a full range of products from full flight simulators
to flight training devices setting new industry standards for higher fidelity,
reliability, cost efficiency and safety. Mechtronix is also the only
manufacturer which actively provides services for both commercial and general
aviation including support for customers to set-up their own tailor made
training solution at home. For more details visit www.mechtronix.com or
contact




For further information:

For further information: Media Contacts: Mechtronix: Adeline Gautier,
Marketing Director, (514) 342-0800, agautier@mechtronix.com; Media Relations
US: J. Dans, Rogue Wave Creative Group, (914) 393-7758, jdans@warwick.net

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MECHTRONIX SYSTEMS

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