MDA signs extensions to long-term RADARSAT-2 information supply contracts
Media Release: February 2, 2017
Vancouver, BC - MacDonald, Dettwiler and Associates Ltd. ("MDA" or the "Company") (TSX: MDA), a global communications and information company, today announced that it has signed three contract amendments with international customers to provide information collected by the RADARSAT-2 satellite. The contracts total approximately CA$8 million.
"Our customers have complex requirements. MDA is gratified to be a long-term partner in the satisfaction of those requirements and in enabling our customers to achieve mission success," said David Belton, the vice president responsible for this business.
The contracts include:
- extending the provision of RADARSAT information to EarthSTAR Inc., a subsidiary of EarthView Image Inc., up to December 31, 2021. EarthSTAR uses the information primarily for land monitoring and change detection.
- extending the provision of RADARSAT-2 information to the Norwegian Space Centre (NSC) until December 31, 2018. NSC uses the information for various maritime and terrestrial applications.
- extending the provision of RADARSAT-2 information until December 31, 2018 to Kongsberg Satellite Services (KSAT). KSAT will use the RADARSAT-2 information primarily for ship detection, oil pollution detection, and ice monitoring.
The RADARSAT-2 satellite has global high-resolution surveillance capabilities that include a large collection capacity and high accuracy data acquisition. The satellite acquires data regardless of light or weather condition, and provides frequent re-visit imaging options. The information provided is ideally suited to markets that require either broad-area monitoring or targeted surveillance, such as defence and security, land use management, agriculture, disaster management, and natural resources.
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."
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 and amendment of a 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 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.