Richmond, B.C. - MacDonald, Dettwiler and Associates Ltd. (TSX: MDA), a provider of essential information solutions, has been awarded a $7 million contract by the Canadian Space Agency (CSA) to carry out conceptual design work for a planned future information solution intended to provide continued radar information to existing RADARSAT users. Unlike the RADARSAT-2 solution, which is based on a single large satellite, the new solution is to be based on a constellation of three smaller satellites and will be known as the RADARSAT Constellation. This contract is the first to draw on the combined capability of MDA and the facility recently acquired from EMS Technologies.
The Canadian Government's ongoing commitment to maintain Canada's strong worldwide position in radar satellite surveillance solutions is backed by the allocation of over $200M of initial funding over the next five years as announced in the 2005 Federal Budget. Government and commercial applications include transportation, national security, resource management and sustainable development.
Under the contract MDA will start to develop the most critical technological concepts, deliver the conceptual design documentation for the mission, and conduct a formal System Requirements Review with the CSA. The work will be carried out at MDA facilities in Richmond, BC and Montréal, Québec.
MDA provides advanced information solutions that capture and process vast amounts of data, produce essential information, and improve the decision making and operational performance of business and government organizations worldwide.
Focused on markets and customers with strong repeat business potential, MDA delivers a broad spectrum of earth and space based information solutions, ranging from complex operational systems, to tailored information services, to electronic information products.
MDA employs more than 2,700 people in locations across the United States, the United Kingdom, and Canada. The Company's common shares trade on the Toronto Stock Exchange under the symbol TSX:MDA.
This release contains forward-looking statements and information, which reflect the current view of MacDonald, Dettwiler and Associates Ltd. with respect to future events and financial performance. Any such forward-looking statements are subject to risks and uncertainties and MDA's actual results of operations could differ materially from historical results or current expectations. Additional information on these and other potential factors that could affect MDA's financial results are detailed in documents filed from time to time with the applicable Canadian securities regulatory authorities.
The Toronto Stock Exchange has neither approved nor disapproved the form or content of this release.