RICHMOND, BC, June 26 /CNW/ - MacDonald, Dettwiler and Associates Ltd.
(TSX: MDA), a provider of essential information solutions, announced today
that its U.K. subsidiary Xit2 has signed agreements for its valuation solution
with three U.K. mortgage firms, Orchid Financial, Shoparound Mortgages and
Coast to Coast Properties.
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.
Gary Hall, Managing Director at Shoparound Mortgages, said, "When you
look around the valuation market, there is little doubt that MDA's valuation
solution uses the most advanced technology and is the most reliable. Further,
it keeps everyone up-to-date and informed, which delivers a tangible benefit
to our intermediaries, clients and surveyors."
David Rae of Coast to Coast said, "Our primary concern is to complete the
sale of properties as quickly as possible for our clients, and MDA's valuation
solution will be an enormous help in achieving that goal."
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 earth and space based information solutions,
ranging from complex operational systems, to tailored information services, to
electronic information products.
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)