RICHMOND, BC, Feb. 28 /CNW/ - MacDonald, Dettwiler and Associates Ltd.
(TSX: MDA), a provider of essential information solutions, announced today
that it has entered into a strategic partnership agreement with Surveyors
Panel Management (SPM), the largest surveyor panel manager in Scotland, to
collectively pursue the Scottish Home Report market.
The agreement brings together SPM's prominent supplier position for key
elements of the Home Report with MDA's prominent market position amongst
property solicitors, many of which are also licensed Estate Agents who will be
ordering the Home Report. Under the agreement MDA and SPM will treat each
other as preferred partners.
The Scottish Executive recently announced that starting December 2008
prospective sellers of residential properties have to obtain a mandatory Home
Report before marketing their property. The Home Report consists of a property
condition report, an energy performance certificate, and a property valuation,
all of which need to be prepared by a licensed surveyor visiting the property,
as well as a property questionnaire filled out by the owner.
Daniel Friedmann, MDA's president and CEO said, 'Between this agreement
and the HIP experience and infrastructure we can readily draw on, MDA now has
all the fundamental components in place to become a strong player in this
exciting new market.'
Ian Gilles, chairman of SPM said, 'It was evident right away that MDA
with its strong market access and proven HIP capabilities would be our ideal
partner. We are delighted having signed this milestone agreement as the basis
to move forward together.'
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.
SPM is a bespoke joint venture company formed by two of the leading firms
of Chartered Surveyors in Scotland who recognized the need for a firm of panel
managers who understand the complexities of valuation and the importance of
local market awareness. DM Hall LLP and Graham + Sibbald formed SPM to meet
this need, providing all their clients with skillfully-managed surveying teams
in addition to the core administrative functions provided by other panel
managers. SPM's panel is made up of carefully-vetted chartered surveyors
operating in the UK who have demonstrated the ability to provide a first class
professional service. Due to its surveying background, SPM not only provides
management information and back-up professional indemnity cover, but also
offers the panel members additional support and advice in all compliance
issues including detailed auditing procedures to ensure overall consistency.
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)