RICHMOND, BC, Dec. 14 /CNW/ - MacDonald, Dettwiler and Associates Ltd.
(TSX: MDA), a provider of essential information solutions, announced today
that the Alliance Spacesystems acquisition has closed. The acquisition is
expected to be slightly accretive to MDA's earnings in 2008.
With about 128 employees, Alliance Spacesystems currently generates
approximately $28 Million USD in annualized revenues. The company is
headquartered in Pasadena California, and also has operations in Signal Hill
California, and Boulder Colorado. Alliance Spacesystems is a well-positioned
U.S. company focused on U.S. civilian defense and commercial space programs.
'This event represents a significant move forward in our effort to access
the U.S. civilian and military aerospace markets,' stated Daniel Friedmann,
president and CEO of MDA. 'MDA has achieved a foothold in early stage U.S.
programs including U.S. Space Exploration and surveillance, and in-orbit
satellite servicing. By combining MDA with U.S.-domiciled Alliance
Spacesystems, MDA is positioned to pursue a much larger share of these future
U.S. market opportunities, and can carry out more of the associated work in
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
Focused on markets and customers with strong repeat business potential,
MDA delivers a broad spectrum of earth and space based information solutions,
ranging from complex operational systems, to tailored information services, to
electronic information products.
MDA employs more than 3,000 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.
About Alliance Spacesystems
Alliance Spacesystems provides customers with world-class aerospace
engineering expertise in a small, customer-focused business environment.
Formed July 1, 2006 through the merger of the former Alliance Spacesystems,
Inc. (ASI) and Vision Composites, the Pasadena-based company is a leading
provider of mechanical systems engineering, custom design and fabrication in
composites structures, robotics and mechanisms, and mechanical analyses for
systems operating in extreme environments. Alliance Spacesystems' innovative
products are in use on interplanetary spacecraft, telecommunications and
scientific satellites and in many challenging terrestrial applications.
This release contains forward-looking statements and information, which
reflect the current view of MacDonald, Dettwiler and Associates Ltd. with
respect to future events and financial performance. Any such forward-looking
statements are subject to risks and uncertainties and MDA's actual results of
operations could differ materially from historical results or current
expectations. Additional information on these and other potential factors that
could affect MDA's financial results are detailed in documents filed from time
to time with the applicable Canadian securities regulatory authorities.
The Toronto Stock Exchange has neither approved nor disapproved the form
or content of this release.
For further information:
For further information: Wendy Keyzer, MDA External Relations, (604)