Richmond, B.C. - MacDonald, Dettwiler and Associates Ltd. (TSX: MDA), a provider of essential information solutions, announced today that that it intends to work together with National House-Building Council (NHBC) of the UK to supply white label Home Information Packs (HIPs) to NHBC for resale to its registered builders. NHBC's registered builders, consisting of house builders and developers, collectively represent more than 80% of all new home construction in the UK.
HIPs will be required for all homes that are marketed for sale from June 1, 2007 onward, including new construction. The NHBC HIP service is intended to be exclusively provided by MDA, and will add to the range of NHBC's value-added products and services.
Mr. Imtiaz Farookhi, NHBC's Chief Executive, said: "NHBC registered house-builders and developers look to us to provide solutions that ensure their competitiveness and the quality of service to their customers. MDA have the solution that best fits our requirements and we are confident that they will be able to provide us with significant value going forward."
Mr. Daniel Friedmann, President and CEO of MDA, stated "New construction makes up approximately 10% of all home transactions, and therefore represents a material portion of the annual HIP market. We look forward to working closely with NHBC to serve this sector."
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 3,000 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.
About National House-Building Council(NHBC)
NHBC is the standard setting body and leading warranty and insurance provider for new and newly converted homes in the UK. Its role is to work with the house-building and wider construction industry to provide consumer protection to new homebuyers through risk management services which raise the standards of new homes.
There are more than 20,000 registered builders on NHBCs Register, who agree to comply with its Standards and Rules when building new homes.
More than 80% of new homes built in the UK each year are registered with NHBC and benefit from its 10-year Buildmark warranty and insurance policy for new homes. Around 1.7 million homeowners are currently protected by Buildmark, and over the past 70 years, NHBC has protected some 40% of the UKýs housing stock.
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.