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 five-year contract amendment valued at CA$3.3 million to provide RADARSAT-2 information to the Netherlands Space Office (NSO). MDA has been providing RADARSAT-2 information to the NSO since 2012.
The RADARSAT-2 information will be used to provide Interferometric Synthetic Aperture Radar (InSAR) information for government users as well as scientific and research purposes through the NSO Satellite Data Portal, a portal that enables the government of The Netherlands to disseminate satellite imagery to Dutch entities.
The RADARSAT-2 satellite is capable of collecting images through all weather conditions, 24 hours a day. It is able to repeatedly image the same location on Earth over time, from the same orbital position, and generate data that is processed using InSAR techniques to measure the movement of ground features to millimetres-level accuracy.
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 a contract amendment with an intergovernmental agency. 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 or intergovernmental 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: risks associated with operating a satellite including in-orbit failures or impaired satellite performance; quality issues and failure of systems to meet performance requirements or to be accepted by a customer; changes in government or intergovernmental policies, priorities, mandates, funding levels, contracts or regulations; and failure of third parties or subcontractors.
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.