Richmond, BC, April 19 /CNW/ - MacDonald, Dettwiler and Associates Ltd.
(TSX: MDA), a provider of essential information solutions, announced today
that Wertweiser GmbH, its joint business initiative with HVBExpertise GmbH in
Germany, has signed a contract with Deutsche Kreditbank AG, Berlin to provide
valuations data to support its mortgage origination and underwriting of
residential properties across Germany. Deutsche Kreditbank AG is one of the
leading direct banks in Germany with more than 460,000 private customers and a
loan portfolio of about 32 billion EURO.
"This second customer enables us to deliver services through web
applications, and reinforces our position in the German real estate valuation
market. We expect our web applications for this customer to go operational
after a period of integration" said Raymond Trotz, chairman of Wertweiser
Wertweiser's information solution is designed to reduce the overall time
and cost involved in professional real estate valuation by automating
labor-intensive parts of this process using analytical algorithms and models
which draw on extensive property data sources accumulated over time. This
service is marketed to financial institutions, such as banks, building and
loan associations, and insurance companies that are active in the German real
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)