Richmond, B.C. - MacDonald, Dettwiler and Associates Ltd. (TSX: MDA), a provider of essential information solutions, announced today its U.S. subsidiary Marshall & Swift / Boeckh (MSB) has signed contracts with one of the Top 5 U.S. Banks and with two large U.S. home restoration vendors to provide MDA’s web-based information solution to estimate repair costs on residential properties found in foreclosure.
Customers will use MSB’s solution primarily to estimate repair and maintenance costs that may need to be incurred in order to sell foreclosed properties. Currently the number of foreclosed properties in the U.S. is high, and the longer these properties stand empty the more they deteriorate due to damage, normal wear and tear, and lack of ongoing maintenance.
‘The repair cost estimating business is a very logical and cost-efficient business extension for us,’ said Salil Donde, CEO of MSB, further stating, ‘this is because we can use the very same estimating methodologies and cost data as we use for our claims estimating business.’
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.
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 three contracts. 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. 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 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.