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 two contracts totaling CA$7.5 million for the provision of RADARSAT-2 information and services.
The Norwegian Space Centre has extended the contract signed in January 2003 for MDA to provide RADARSAT-2 information to the Norwegian government for a further three years for use in ice mapping, landslide monitoring, oil spill detection, and ship detection services.
The second contract is an amendment for MDA to extend its provision of RADARSAT-2 imagery until November 2014 in support of Europe’s Copernicus program (previously known as Global Monitoring for Environment and Security), under a contract previously announced in August 2011. The RADARSAT-2 imagery will be used to provide mission critical information for sea ice monitoring of the Baltic Sea, Arctic Ocean, and Antarctic Ocean throughout the ice seasons, improving the safety of maritime navigation and supporting environmental monitoring as part of the Copernicus program. Copernicus was established to provide users in Europe with access to accurate and timely information services to better manage the environment, understand and mitigate the effects of climate change and ensure civil security.
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 contracts to governmental agencies. 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; 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.