EDC finances Canadian-built satellite system for Ukraine

OTTAWA, Dec. 15 /CNW Telbec/ - Export Development Canada (EDC) today announced it is providing $254 million in financing to Canada's MacDonald, Dettwiler and Associates Ltd. (MDA) to build a full-scale communication satellite system for the National Space Agency of Ukraine (NSAU).

"EDC's involvement in this exciting international project has helped MDA, one of Canada's premiere high-technology companies, secure this breakthrough deal," said Stephen Poloz, Senior Vice-President, Financing, EDC. "EDC's support is not only important to MDA, but also creates new supply opportunities for other leading-edge Canadian companies as they move into key emerging markets."

As prime contractor, MDA will build and launch a geostationary communications satellite and provide two satellite control centers and other associated ground infrastructure. The communications satellite will support direct broadcast television and high-speed Internet access to the people of Ukraine and surrounding areas. MDA and the NSAU are completing the specifications over the next 60 days.

Don Osborne, the MDA vice president responsible for this business said, "This is the second large win for MDA in the Commonwealth of Independent States. This opportunity is particularly exciting as it has brought together best in class Canadian information solutions with financing from EDC to meet the needs of the NSAU."

EDC maintains a representation covering all CIS markets out of Moscow, Russia, and regularly works with the various governments, local corporations and Canadian companies in the region.

MDA provides advanced information solutions that capture and process vast amounts of data, produce essential information, and improve the decision making and operational performance of business and government organizations worldwide. Focused on markets and customers with strong repeat business potential, MDA delivers a broad spectrum of information solutions, ranging from complex operational systems to tailored information services to electronic information products. MDA employs more than 3,200 people in locations across the United States, the United Kingdom, and Canada. The company's common shares trade on the Toronto Stock Exchange under the symbol TSX:MDA.

EDC is Canada's export credit agency, offering innovative commercial solutions to help Canadian exporters and investors expand their international business. EDC's knowledge and partnerships are used by more than 8,300 Canadian companies and their global customers in up to 200 markets worldwide each year. EDC is financially self-sustaining, a recognized leader in financial reporting and economic analysis, and has been recognized as one of Canada's Top 100 Employers for nine consecutive years.

SOURCE Export Development Canada

For further information: For further information: Phil Taylor, Export Development Canada, Tel: (613) 598-2904, Blackberry: ptaylor@edc.ca


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890