Richmond, B.C. - MacDonald, Dettwiler and Associates Ltd. (TSX: MDA), a provider of essential information solutions, announced today that MDA Searches, its retail property search business in the UK, will become a Home Information Pack (HIP) distribution channel to conveyancing solicitors wishing to order HIPs on behalf of their local clients.
Starting immediately MDA Searches will deploy its sales force to also market HIP solutions to its extensive base of existing and prospective customers, consisting of conveyancing solicitors in England and Wales. Solicitors can choose to either order and deliver a Law Society branded HIP, or to order a white label HIP and deliver it under their own proprietary brand name. Either way, the HIP will be assembled by MDA Advantage, who operates MDA’s wholesale HIP business, and who is the exclusive production partner for the Law Society’s HIPs.
Legislation enabling the introduction of mandatory Home Information Packs (HIPs) in England and Wales was part of the Housing Bill enacted in November 2004. As a result, homeowners and their selling agents will be required from June 1, 2007 onward to obtain a regulated HIP when listing homes for sale, and to make a copy available to prospective buyers.
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.