OTTAWA, ONTARIO--(Marketwire - July 19, 2010) - The Honourable Tony Clement, Minister of Industry, delivered a keynote address today to Canadian companies at the 2010 Farnborough International Airshow. As Head of Delegation for Canada, Minister Clement officially opened the Canadian Pavilion and welcomed representatives from key Canadian aerospace companies to this global aerospace trade show.

During his speech, Minister Clement outlined how the Government of Canada is building on the Canadian strengths in our aerospace industry to help position Canadian firms as suppliers of choice to major aircraft platforms.

While at the air show, Minister Clement will be meeting with many key aerospace stakeholders to promote the innovation and technological capabilities of the Canadian aerospace sector. It is expected that many Canadian aerospace companies will be announcing key business transactions at the show.

"Canadian aerospace companies are among the world leaders in the industry," said Minister Clement. "It is their strength and technological capability that make them key partners on major global platforms. These capabilities also demonstrate why Canada is an excellent location to establish a North American presence."

Canada's aerospace industry generates annual revenues of $23.6 billion and employs 83 000 Canadians in high-paying jobs in more than 400 firms. It also features important industrial clusters and comprises leading multinational companies and numerous small and medium-sized enterprises that occupy crucial parts of global supply chains. The industry exports approximately 80 percent of its output and the sector invests approximately $1.3 billion in research and development.

The 2010 Farnborough International Airshow is being held in Farnborough, United Kingdom, from July 19–25, 2010. It is a flagship event for the aerospace and aviation industries and is attended by companies from around the world.