RICHMOND, BC, Dec. 17 /CNW/ - MacDonald, Dettwiler and Associates Ltd. (TSX: MDA), a provider of essential information solutions, announced today it has received follow-on contracts valued at over $9.5 million (USD) from the U.S. Federal Aviation Administration (FAA) to further upgrade the Instrument Procedure Development System (IPDS).
These contracts extend the value of the existing first development phase of IPDS, contracted in January 2007, and the first upgrade, contracted in October 2008, to over $31 million (USD).
The IPDS is part of a joint initiative between the FAA and the Department of Defence (DoD) to create an automated solution to modernize flight route design practices and to harmonize military and civilian air navigation in the long term. The IPDS provides the FAA and the DoD with the capability to design terminal area flight routes that take advantage of the latest navigation equipment, resulting in improved terminal airspace usage and reduced fuel burn.
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.
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. The forward-looking statements in this regard include statements regarding the award of a government 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. 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. The factors and assumptions underlying the forward-looking statements in this release include contracts with any government agency 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 changes in government priorities, funding levels, contracts and regulations; failure of third parties and subcontractors; and failure of systems to meet performance requirements.
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 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.
SOURCE MacDonald, Dettwiler and Associates Ltd.
For further information: For further information: Wendy Keyzer, MDA External Relations, (604) 231-2743, firstname.lastname@example.org