MDA to upgrade ground systems for Canadian radar surveillance system
Media Release: January 11, 2016
MacDonald, Dettwiler and Associates Ltd. ("MDA" or the "Company") (TSX: MDA), a global communications and information company, today announced that it has signed a contract amendment for CA$3 million with Canada’s Department of National Defence to provide upgrades to the ground systems supporting the radar surveillance systems developed by MDA and used on Canada’s fleet of CP-140 Aurora aircraft.
The CP-140 Aurora fleet is Canada’s Intelligence, Surveillance and Reconnaissance aircraft. The fleet is used by the Royal Canadian Air Force in activities such as domestic surveillance of Canada’s maritime approaches, search and rescue missions, and maritime and overland operations. MDA’s radar surveillance system provides users with a high resolution imaging capability that can detect, locate, and classify land and marine-based objects, such as vehicles and ships.
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. (“MDA” or the “Company”) with respect to future events and financial performance. The forward-looking statements in this regard include statements regarding the amendment of a contract with a governmental agency. 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 necessarily limited to: changes in government or intergovernmental priorities, mandates, 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.