MDA signs contracts for RADARSAT-2 information
Media Release: August 10, 2016
Richmond, BC - MacDonald, Dettwiler and Associates Ltd. ("MDA" or the "Company") (TSX: MDA), a global communications and information company, today announced that it has signed two contract amendments totaling CA$2.75 million with two existing long-term RADARSAT-2 customers. These customers use the RADARSAT information in the areas of oil spills, illegal fishing, agriculture, forestry, disaster management and maritime safety.
MDA will extend its provision of RADARSAT-2 data an additional two years to the Collecte Localisation Satellites (CLS) ground station located in Brest, France, and an additional three years to the Geo-Informatics and Space Technology Development Agency (GISTDA).
The RADARSAT-2 satellite has global high-resolution surveillance capabilities that include a large collection capacity and high accuracy. The satellite acquires data regardless of light or weather condition, provides frequent re-visit imaging options, and is supported by ground receiving stations that provide near real-time information delivery services. This versatility makes RADARSAT-2 a reliable source of information.
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 13 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 certain contract amendments. 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 subject contract 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. Risks that could cause actual results to differ from current expectations include, but are not limited to: changes in a contracting entity’s 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.