Richmond, B.C. - MacDonald, Dettwiler and Associates Ltd. (TSX: MDA), a provider of essential information solutions, announced today that it has signed contracts in excess of CA$990,000 with Luossavaara-Kiirunavaara AB (LKAB) and a leading potash producer to provide critical information from RADARSAT-2 for monitoring surface deformation at and in the vicinity of their mines. The contract with LKAB extends an existing agreement for a further three years.
MDA will apply advanced RADARSAT-2 technology to detect subtle surface changes, weather independent, over a broad area. Early detection of changes, such as subsidence, allows remedial actions to happen before problems escalate and impact the environmental safety or production activities of the mine. MDA will also provide analytical reports that compare the historical to the current situation. These reports are valuable support documents required by regulatory organizations.
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. (“MDA” or the “Company”) 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. 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 satellite failure; failure of third parties and subcontractors; failure of systems to meet performance requirements and failure to anticipate changes in technology, technical standards and 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 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.