VANCOUVER, July 26, 2017 /CNW/ - MacDonald, Dettwiler and Associates Ltd. ("MDA" or the "Company") (TSX:MDA), a global communications and information company, today announced that it has received an Authorization to Proceed on a multi-million dollar contract from Sierra Nevada Corporation (SNC). MDA will provide a communications subsystem for on-board communication signal processing capabilities for the Dream Chaser® Cargo System, a cargo transportation spacecraft being developed by SNC under the NASA Commercial Resupply Services (CRS2) program. The spacecraft is scheduled for at least six cargo delivery missions to and from the International Space Station between 2020 and 2024.
Joanna Boshouwers, MDA's vice president and general manager responsible for this business said, "We are pleased to continue our partnership with SNC and to contribute to the success of the CRS2 program. MDA is a long-term supporter of SNC's innovative Dream Chaser® space vehicle, and we look forward to working closely with SNC to bring it into service for NASA."
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 15 locations in the United States, Canada, and internationally.
The Company's common shares trade on the Toronto Stock Exchange under the symbol "MDA."
About Sierra Nevada Corporation
Recognized as one of "The World's Top 10 Most Innovative Companies in Space," Sierra Nevada Corporation (SNC) provides customer-focused advanced technology solutions in the areas of space, aviation, electronics and systems integration. SNC's diverse technologies are used in applications including space exploration and satellites, aircraft integrations, navigation and guidance systems, threat detection and security, scientific research and infrastructure protection. Founded in 1963 and headquartered in Sparks, Nevada, SNC operates under the leadership of owners, CEO Fatih Ozmen and President Eren Ozmen, with a workforce of more than 3,000 personnel in 34 locations in 19 U.S. states, England, Germany and Turkey providing global support to customers.
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 MDA receiving an authorization to proceed ("ATP") for work related to a satellite subsystem. 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 the ATP not being terminated and the ability to reach final agreement on the subsequent contractual terms and conditions. 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 inherent with performance on fixed price contracts, particularly the ability to contain cost overruns and schedule delays, risks associated with satellite manufacturing, including competition, cyclicality of MDA's end-user markets, contractual risks, creditworthiness of customers, performance of suppliers and management of MDA's factory and personnel; failure of third parties and subcontractors; failure of systems to meet performance requirements; 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 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.
Wendy Keyzer | MDA Media Contact | 1-604-231-2743 | [email protected]
Marissa Poratto | MDA Investor Relations | 1-604-331-2044 | [email protected]
SOURCE MacDonald, Dettwiler and Associates Ltd.