Richmond, BC - MacDonald, Dettwiler and Associates Ltd. ("MDA" or the "Company") (TSX: MDA), a global communications and information company, announced today it has signed a contract valued at over CA$16 million with the Royal Canadian Navy to provide in-service support for training and maintenance of the Victoria-class Trainers located at CFB Halifax, used to train personnel on operating and maintaining Victoria-class Submarines. Contributing directly to Canada’s domestic security capability, the submarines also support Canadian Arctic and maritime sovereignty. The contract is for a four-year duration, with options for an additional two years.
The use of training simulators improves safety decision-making skills during realistic mission scenarios, in a cost-effective and timely manner. MDA has been providing in-service training and maintenance support on the Victoria-class Trainers since 2009.
Don Osborne, the vice president responsible for this business said, “MDA is pleased to have been selected as the winning bidder for this contract. We look forward to continuing our work with the Royal Canadian Navy. In-service support and training systems were identified in the Jenkins report as Key Industrial Capabilities for Canada, and MDA, as a Canadian company, is proud to provide this service to DND.”
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 4,800 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; 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.