RICHMOND, BC, June 17, 2016 /CNW/ - MacDonald, Dettwiler and Associates Ltd. ("MDA" or the "Company") (TSX:MDA), a global communications and information company, today announced that it has signed a CA$48.5 million (including taxes) contract with the Government of Canada to deliver an advanced broad-area global maritime and Arctic surveillance solution, called Polar Epsilon 2 (PE2), to the Department of National Defence (DND). The contract includes two years of in-service support to operate and maintain the delivered systems. The contract also has options which could increase the contract value to CA$63.1 million.
The PE2 ground systems will include ground segment systems with the capability to receive and exploit information from the RADARSAT Constellation Mission (RCM) Synthetic Aperture Radar (SAR) satellites, currently being built by MDA for the Canadian Space Agency. PE2 will provide DND with daily maritime information over millions of square kilometers from SAR imagery, all within minutes of imaging.
In 2011 MDA successfully delivered PE2's predecessor Polar Epsilon to DND. Polar Epsilon is a broad-area maritime surveillance system based on MDA's RADARSAT-2 satellite. Since 2012, MDA has been providing in-service operational support for the east and west coast RADARSAT-2 ground systems that support the deliverables under the Polar Epsilon project.
Norman Hannaford, MDA's general manager responsible for this business said, "This award confirms MDA's role as a leading global supplier of Earth observation satellite ground infrastructure."
The RCM is a three-satellite configuration that will provide daily revisits of Canada's vast territory and maritime approaches, as well as daily access to 90% of the world's surface.
MDA is a global communications and information company providing operational solutions to commercial and government organizations worldwide.
MDA's business is focused on markets and customers with strong repeat business potential, primarily in the Communications sector and the Surveillance and Intelligence sector. In addition, the Company conducts a significant amount of advanced technology development.
MDA's established global customer base is served by more than 4,800 employees operating from 11 locations in the United States, Canada, and internationally.
The Company's common shares trade on the Toronto Stock Exchange under the symbol "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 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. 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, but are not limited to: risks associated with operating satellites and providing satellite services, including satellite construction or launch delays, launch failures, in-orbit failures or impaired satellite performance; changes in government priorities, mandates, policies, 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 under the Company's profile 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.
Image with caption: "RADARSAT Constellation Mission satellite, being built by MDA for the CSA. ©MacDonald, Dettwiler and Associates Ltd (CNW Group/MacDonald, Dettwiler and Associates Ltd.)". Image available at: http://photos.newswire.ca/images/download/20160617_C7981_PHOTO_EN_716585.jpg
For further information: Wendy Keyzer, MDA External Relations, (604) 231-2743, [email protected]