RICHMOND, BC, May 24, 2013 /CNW/ - MacDonald, Dettwiler and Associates
Ltd. ("MDA" or the "Company") (TSX: MDA), a global communications and information company, announced today it
has signed a CA$10.8 million contract from Canada's Department of
National Defence (DND) to provide five years of operational support for
a space-based surveillance solution being developed by MDA to provide
DND with access to timely and accurate surveillance information. The
contract includes three one-year options to extend the support, with a
total anticipated value of the options at CA$6.3 million.
MDA has been under contract since November 2011 to develop two transportable satellite ground stations that can receive
and process imagery from multiple satellites in minutes, and are
capable of being rapidly deployed to any area of interest around the
world. MDA expects to deliver the ground stations to DND in late 2013.
MDA is a global communications and information company providing
operational solutions to commercial and government organizations
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 related to a government
project. 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, changes in government
priorities, mandates, policies, funding levels, contracts and
regulations, partial or complete termination of a government funded
project, partial or complete failure of a satellite or related
subsystems, failure of third parties and subcontractors, 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 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:
MDA External Relations