MDA to provide critical information to monitor surface deformation in mines
RICHMOND, BC, Feb. 18, 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 contracts in excess of CA$1 million with two leading international mining customers to provide critical information to monitor surface deformation at and in the vicinity of their mines.
MDA will apply advanced RADARSAT-2 technology to detect subtle surface changes over a broad area. Early detection of changes, such as land shifts that could cause ground subsidence, allows remedial actions to happen before problems escalate and impact the environmental safety or production activities of the mine. MDA will also provide analytical reports that compare the historical to the current situation. These reports are valuable support documents required for regulatory organizations.
The RADARSAT-2 satellite has global high-resolution surveillance capabilities that include a large collection capacity and high accuracy. The satellite acquires data regardless of light or weather condition, provides frequent re-visit imaging options, and is supported by ground receiving stations that provide near real-time information delivery services. This versatility makes RADARSAT-2 a reliable source of information in monitoring programs.
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 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; partial or complete failure of satellite(s) or related subsystems; 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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