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 two contracts with EarthSTAR Inc., a subsidiary of EarthView Image Inc., totaling approximately CA$10 million.
The first contract is a multi-year extension of RADARSAT-2 distribution rights. In addition, the contract includes exclusive distribution rights for China, effective November 11, 2014. The RADARSAT-2 information will be used to support government and commercial users in China in areas such as land use management, environmental monitoring, subsidence monitoring, and disaster response.
Under the second contract, MDA will provide a ground station able to receive and process data from the RADARSAT-2 satellite. The station is expected to be installed and operational in late 2015.
The RADARSAT-2 satellite has global high-resolution surveillance capabilities that include a large collection capacity and high accuracy. The satellite acquires data regardless of light or weather condition, provides frequent re-visit imaging options, and is supported by ground receiving stations that provide near real-time information delivery services. This versatility makes RADARSAT-2 a reliable source of information for disaster management, maritime monitoring, deformation mapping and for other applications.
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. (“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. 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 operating a satellite including in-orbit failures or impaired satellite performance; 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 compliance 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 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.