RICHMOND, BC, Aug. 29, 2018 /CNW/ - MDA, a Maxar Technologies company (formerly MacDonald, Dettwiler and Associates Ltd.), (NYSE: MAXR) (TSX: MAXR), today announced that it has signed a five-year agreement with an undisclosed customer, to provide broad area land and maritime surveillance imagery from MDA's RADARSAT-2 synthetic aperture radar (SAR) satellite in support of a global defence and security mission. The agreement is for an initial period of two years with an estimated value of CA$10 million per year, and three additional option years. In May 2013, MDA announced a related agreement for the supply of space-based radar surveillance and intelligence information.
Mike Greenley, group president of MDA said, "MDA is an industry leader in the delivery of mission-critical, near real-time information solutions to customers with complex and demanding operational requirements. Since the launch of RADARSAT-1 in 1995, MDA has established itself as a trusted and reliable partner serving repeat customers with high-availability space surveillance products and services. We are very pleased that the customer community is continuing the legacy of signing long-term supply contracts for our data."
MDA is an internationally recognized leader in space robotics, space sensors, satellite payloads, antennas and subsystems, surveillance and intelligence systems, defence and maritime systems, and geospatial radar imagery. MDA's extensive space expertise and heritage translates into mission-critical defence and commercial applications that include multi-platform command, control and surveillance systems, aeronautical information systems, land administration systems and terrestrial robotics. MDA is also a leading supplier of actionable mission-critical information and insights derived from multiple data sources. Founded in 1969, MDA is recognized as one of Canada's most successful technology ventures with locations in Richmond, Ottawa, Brampton, Montreal, Halifax and the United Kingdom. MDA is a Maxar Technologies company (TSX: MAXR; NYSE: MAXR). For more information, visit www.mdacorporation.com.
About Maxar Technologies
As a global leader of advanced space technology solutions, Maxar Technologies (formerly MacDonald, Dettwiler and Associates) is at the nexus of the new space economy, developing and sustaining the infrastructure and delivering the information, services, systems that unlock the promise of space for commercial and government markets. As a trusted partner, Maxar Technologies provides vertically-integrated capabilities and expertise including satellites, Earth imagery, robotics, geospatial data and analytics to help customers anticipate and address their most complex mission-critical challenges with confidence. With more than 6,500 employees in over 30 global locations, the Maxar Technologies portfolio of commercial space brands includes MDA, SSL, DigitalGlobe and Radiant Solutions. Every day, billions of people rely on Maxar to communicate, share information and data, and deliver insights that Build a Better World. Maxar trades on the Toronto Stock Exchange and New York Stock Exchange as MAXR. For more information, visit www.maxar.com.
This release contains forward-looking statements and information, which reflect the current view of Maxar Technologies Ltd. (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. Any such forward-looking statements are based on the Company'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. The Company 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 providing products derived from operating satellites including in-orbit failures or impaired satellite performance; changes in a contracting entity's priorities, mandates, policies or funding levels; quality issues, failure of systems to meet performance requirements, potential for product liability, or the occurrence of defects in products or systems could result in lost revenue and harm to the Company's reputation; failure of third parties and subcontractors; and failure to anticipate changes in technology, technical standards and offerings or compliance with the requisite standards, or failure to maintain technological advances and offer new products to retain customers and market position.
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 and U.S. securities regulatory authorities, which are available online under the Company's SEDAR profile at www.sedar.com, under the Company's EDGAR profile at www.sec.gov or on the Company's website at www.maxar.com.
Wendy Keyzer | MDA Media Contact | 1-604-231-2743 | [email protected]
Jason Gursky | Maxar Investor Relations | 1-303-684-2207 | [email protected]
SOURCE Maxar Technologies Ltd.