RICHMOND, BC, June 24 /CNW/ - MacDonald, Dettwiler and Associates Ltd.
(TSX: MDA), a provider of essential information solutions, announced today
that its UK subsidiary Xit2 has provided The Co-operative Bank (Co-op) with a
valuation information solution to manage the information exchange between The
Co-op and its mortgage valuators.
MDA's valuation solution is a proprietary Internet-based
business-to-business solution, which connects the country's lenders with
surveyor panel managers and their panel of chartered surveyors (the equivalent
of appraisers in North America). Through this solution, MDA manages the
interface between lenders and surveyors, which include surveyor selection,
secure electronic document exchange, valuation report generation, payment
disbursements, and Quality Assurance services to ensure full compliance with
the lender's requirements.
Peter Stibrany, managing director of the Xit2 group said: 'Being chosen
by The Co-operative Bank is another wonderful endorsement of our valuation
solution. Xit2 puts the Co-op firmly in control of their valuation process and
it is a real accomplishment for us to be chosen to provide the solution for
their entire business. The Valuation Exchange will improve the speed of
instruction, give them more command over the process and deliver robust and
immediate management information.'
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 information solutions, ranging from complex
operational systems, to tailored information services, to electronic
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.
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)