Richmond, B.C. - MacDonald, Dettwiler and Associates Ltd. (TSX: MDA), a provider of essential information solutions, announced today that it has signed a contract in excess of $200 million (CAD) with the Russian Radio Research and Development Institute (NIIR) to provide two advanced technology solutions for the Express AM5 and Express AM6 satellites.
Scheduled to launch in 2012, the Express satellites are designed to provide a large range of broadcasting services, including digital TV, radio broadcasting, multimedia services and mobile communications. MDA will deliver the solutions between Q4 2011 and Q1 2012.
Russia is increasing their demand for satellite systems to meet the country’s growing needs in information provision and this has opened a new market for MDA’s products and services. The Express series of satellites are owned and operated by the Russian Satellite Communications Company, the major Russian satellite operator, currently operating a fleet of 11 communications and broadcasting satellites.
Don Osborne, the vice president responsible for this business said, ‘the contract to supply the Express AM5 and Express AM6 solutions is aligned with our market focus in the Commonwealth of Independent States region and working with NIIR, a new customer for MDA, strengthens our presence in Russia.’
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 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 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 failure of third parties and subcontractors; failure of systems to meet performance requirements; changes in government priorities, funding levels, contracts and regulations; satellite failure; and failure to anticipate changes in technology, technical standards and product offerings or comply with the requisite standards.
For additional information with respect to certain of these risks or factors, plus additional risks or factors, reference should be made to MDA’s continuous disclosure materials filed from time to time with Canadian securities regulatory authorities, which are available online at www.sedar.com or on MDA’s website at www.mdacorporation.com.
The Toronto Stock Exchange has neither approved nor disapproved the form or content of this release.