Richmond, BC - MacDonald, Dettwiler and Associates Ltd. ("MDA" or the "Company") (TSX: MDA), a global communications and information company, announced today that it has signed contracts totaling CA$3.2 million with the Government of Canada’s Department of National Defence (DND) to provide operations for the east and west coast RADARSAT-2 ground systems that support the deliverables under the Polar Epsilon project, the broad-area surveillance system delivered by MDA to DND in 2012.
In 2012, PWGSC on behalf of DND, awarded a one-year contract for operational support that included renewal options for an additional four years, the first of which was recently exercised. MDA will be providing operational support under this contract until March 2014.
The Polar Epsilon surveillance system delivers space-based, day and night, all-weather maritime surveillance information of Canada’s Arctic, Atlantic, and Pacific oceans and includes global high-resolution surveillance capabilities to support deployed Canadian Forces.
MDA is a global communications and information company providing operational solutions to commercial and government organizations worldwide.
MDA's business is focused on markets and customers with strong repeat business potential. In addition, the Company conducts a significant amount of advanced technology development.
MDA's well-established global customer base is served by more than 4,500 employees operating from 11 offices located in the United States, Canada, and internationally.
The Company's common shares trade 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 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. 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, but are not limited to: changes in government priorities, mandates, policies, funding levels, contracts and regulations; partial or complete failure of a satellite or related subsystems; failure of third parties and subcontractors; 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 under the Company’s profile 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.