MDA signs contracts for subsystems
Media Release: April 4, 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 contracts with a combined value of 4.3 million euros with Thales Alenia Space for four subsystems to be installed on the Sentinel-6A, -6B, -3C, and -3D environmental monitoring satellites, part of Europe’s Copernicus program.
These subsystems are dedicated to the satellites’ altimetry instruments and provide the satellites with the capability to measure the distance to Earth from the satellite, which enables it to map ocean-surface topography, for example.
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 11 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. and its subsidiaries (collectively “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 contracts. 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 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: risks associated with developing a unique satellite antenna solutions including quality issues and failure of systems to meet performance requirements or to be accepted by the customer; failure of third parties subcontractors; in-orbit failures or impaired satellite performance; and risks of performance on fixed price construction contracts.
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.