Richmond, B.C. - MacDonald, Dettwiler and Associates Ltd. (TSX: MDA), a provider of essential information solutions, announced today that it has signed a $4.3 million (CAD) contract with the Canadian Space Agency (CSA) for the development of the mission concept for the Polar Communications and Weather (PCW) Mission. MDA will develop and advance the mission design and generate the inputs necessary to proceed towards the next phase.
The PCW Mission is targeted to launch two satellites in a highly elliptical orbit to provide continuous communication services and weather observation of the Northern regions. It includes a ground segment to process the meteorological information and to manage the communication services offered by the satellites. PCW is meant to facilitate Canadian operations in the north and support Canadian sovereignty by providing reliable and continuous space-based communications services and timely meteorological information.
Steve Oldham, one of MDA’s vice presidents within the Information Systems group said, ‘MDA is excited to be chosen as CSA's prime contractor for the development of the mission concept for the PCW mission. The PCW mission addresses the Canadian government needs in the Arctic and strengthens Canada's sovereignty in the North.’
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 information solutions, ranging from complex operational systems, to tailored information services, to electronic information products.
MDA employs more than 3,200 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. The forward-looking statements in this regard include statements regarding the award of a government 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. 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. 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 changes in government priorities, funding levels, contracts and regulations; failure of third parties and subcontractors; satellite failure; 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 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.