RICHMOND, B.C., Dec. 14 /CNW/ - MacDonald, Dettwiler and Associates Ltd. (TSX: MDA), a provider of essential information solutions, announced today that it has signed a $254 million dollar (US) contract to provide a communication satellite system to the National Space Agency of Ukraine (NSAU). The financing for this project is provided by Export Development Canada (EDC).
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 country of Ukraine and surrounding areas. MDA and the Ukrainian Space Agency are finalizing specifications, and other requirements, over the next succeeding months.
Mr. Zinchenko, President of NSAU said, 'We are very excited for this contract award, which is the first major step in a long-term strategic partnership between NSAU and MDA in the fields of satellite communications and Earth observation.'
Don Osborne, the 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 Ukraine National Space Agency.'
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 have been named as one of Canada's Top 100 Employers for nine consecutive years.
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 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 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, contacts and regulations; failure of third parties and subcontractors; failure of systems to meet performance requirements and failure to anticipate changes in technology, technical standards and product offerings or comply 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 MDA's continuous disclosure materials filed from time to time with Canadian securities regulatory authorities, which are available online at www.sedar.com or on MDA'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: Nathalie Patenaude, Public Relations, (514) 457-3966, firstname.lastname@example.org; Wendy Keyzer, MDA External Relations, (604) 231-2743, email@example.com