Richmond, BC - MacDonald, Dettwiler and Associates Ltd. ("MDA" or the "Company") (TSX: MDA), a global communications and information company, today announced that it has signed a contract valued in excess of CA$30 million with Aselsan Electronic Industries Inc. (Aselsan), to provide an X-band communication hosted payload solution.
Aselsan is Turkey’s leading space and defence company, and prime contractor for the construction of the Turksat 6A X-Band payload, which is scheduled to provide government and other communication services once it is launched in 2018.
Leveraging the long-term experience of MDA’s Montreal facility with L, C, Ka, Ku and X band payloads for communication satellite subsystems, MDA and Aselsan will co-develop a unique X-Band communication hosted payload solution. This solution has the potential to open new international government and defence communication market opportunities.
Joanna Boshouwers, the general manager responsible for MDA’s communications business in Montreal said, “Like many other rapidly developing countries with a vast territory, Turkey has an increasing demand for satellite communication solutions and a strong desire to engage its domestic industry to help meet this demand. This project is a great example of a cooperative approach between MDA and domestic industry to meet a country’s satellite communication objectives. We are working on using the same approach to expand the number of space-related opportunities within Turkey, as well as in other similar markets.”
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, primarily in the Communications sector and the Surveillance and Intelligence sector. In addition, the Company conducts a significant amount of advanced technology development.
MDA's established global customer base is served by more than 4,800 employees operating from 11 locations in the United States, Canada, and internationally.
The Company's common shares trade on the Toronto Stock Exchange under the symbol "MDA."
This release contains forward-looking statements and information, which reflect the current view of MacDonald, Dettwiler and Associates Ltd. and its subsidiaries (collectively “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, but are not limited to: risks associated with developing a unique satellite payload solution including quality issues and failure of systems to meet performance requirements or to be accepted by the customer; failure of third parties subcontractors; in-orbit failures or impaired satellite performance; and risks of performance on firm fixed price construction contracts and termination of contracts by customers for convenience.
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.