PALO ALTO, CA, April 12, 2017 /CNW/ - Space Systems Loral (SSL), a leading provider of innovative satellites and spacecraft systems, today announced that it has signed and executed an agreement with the U.S. Defense Advanced Research Projects Agency (DARPA) to develop advanced capabilities for servicing and maintaining spacecraft in geostationary orbit. Details of the partnership were previously released on February 9, 2017.
SSL is a U.S. company, which employs more than 2,000 people in Palo Alto, California, where it has done business for 60 years. The work scope for the DARPA mission will be performed in its U.S. facility by its staff of engineers and technicians based in California.
"SSL is looking ahead to help satellite operators and government agencies address the demand for cost efficiency paired with next generation technology," said Howard Lance, chief executive officer, SSL MDA Holdings. "Now SSL is working with both NASA and DARPA on their programs which develop a range of cooperative in-orbit satellite servicing capabilities that will shape future space architectures and provide flexibility for how both commercial and government satellite operators manage their fleets."
Space Systems Loral (SSL) is a leading provider of commercial satellites with broad expertise to support satellite operators and innovative space related missions. The company designs and manufactures spacecraft for services such as direct-to-home television, video content distribution, broadband internet, mobile communications, and Earth observation. As a Silicon Valley innovator for 60 years, SSL's advanced product line also includes state-of-the-art small satellites, and sophisticated robotics and automation solutions for remote operations. For more information, visit www.sslmda.com.
About SSL MDA Holdings
SSL is a subsidiary of SSL MDA Holdings, Inc., which is based in San Francisco, CA. SSL MDA Holdings is a wholly-owned subsidiary of MacDonald, Dettwiler and Associates Ltd. and serves as the operating company for all MDA businesses.
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."
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 U.S. 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: changes in government priorities, mandates, policies or funding levels through agency budget reductions, the imposition of budgetary constraints or a decline in government support or deferment of funding for programs in which the Company or its customers participate; the Company's ability to effectively execute its U.S. government access plan and realize anticipated benefits of contract awards from the U.S. government and failure by the Company to comply with U.S. regulations could result in penalties or suspension; certain U.S. subsidiaries of the Company are subject to the requirements of the National Industrial Security Program Operating Manual for their facility security clearance, which is a prerequisite for their ability to obtain and perform on classified contracts for the U.S. government; 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.
Wendy Lewis | SSL Media Contact | 1-650-852-5188 | [email protected]
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.