MDA to provide subsystems for EDRS-C telecommunication satellite
RICHMOND, BC, Jan. 6, 2014 /CNW/ - MacDonald, Dettwiler and Associates Ltd. ("MDA" or the "Company") (TSX: MDA), a global communications and information company, announced today that it has signed a contract in excess of CA$4 million to provide OHB System AG with satellite communication electronics to be integrated into the EDRS-C telecommunication satellite as part of the European Data Relay Satellite (EDRS) system.
The EDRS system of telecommunication satellites in geostationary orbit will relay information between Low Earth Orbit satellites and ground stations. EDRS will increase the time the satellites can be in communication with the ground and enable faster delivery of imagery to users. This will support response activities following natural disasters, such as providing accurate space-based maps of affected areas. Astrium is the industrial prime contractor to the European Space Agency for the implementation and later operations of the EDRS system.
MDA is a global communications and information company providing operational solutions to commercial and government organizations worldwide.
MDA's business is focused on markets and customers with strong repeat business potential. In addition, the Company conducts a significant amount of advanced technology development.
MDA's well-established global customer base is served by more than 4,500 employees operating from 11 offices located in the United States, Canada, and internationally.
The Company's common shares trade under the symbol TSX:MDA.
This news release contains forward-looking statements and information, which reflect the current view of MacDonald, Dettwiler and Associates Ltd. ("MDA" or the "Company") with respect to future events and financial performance. The forward-looking statements in this regard include statements regarding the award of a contract. Any such forward-looking statements are based on MDA's current expectations, estimates, projections and assumptions in light of its experience and its perception of historical trends. The factors and assumptions underlying the forward-looking statements in this release include contracts not being terminated. Any such forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from current expectations. MDA cautions readers that should certain risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary significantly from those expected. The risks that could cause actual results to differ from current expectations include, but are not limited to: failure of third parties and subcontractors; failure of systems to meet performance requirements; and failure to anticipate changes in technology, technical standards and offerings or compliance with the requisite standards.
For additional information with respect to certain of these risks or factors, plus additional risks or factors, reference should be made to the Company's continuous disclosure materials filed from time to time with Canadian securities regulatory authorities, which are available online under the Company's profile at www.sedar.com or on the Company's website at www.mdacorporation.com
The Toronto Stock Exchange has neither approved nor disapproved the form or content of this release.
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