United Kingdom/Richmond, BC - OneWeb and MDA - MacDonald, Dettwiler and Associates Ltd. ("MDA" or the "Company") (TSX: MDA), a global communications and information company, today announced that MDA has joined the OneWeb team. OneWeb is building over 900 Low Earth Orbit (LEO) satellites to enable affordable broadband access for emerging markets and rural areas. OneWeb's communications network will enable access for people everywhere, by transparently extending the networks of mobile operators and ISP's to serve new coverage areas. The initial production is planned for launch into Low Earth Orbit beginning in 2018.
Partnering with MDA will allow OneWeb to benefit from its world-class antenna and payload design and engineering expertise. MDA has proven high-volume manufacturing experience. Streamlining production, and the weight of the individual satellites are key components in making the OneWeb constellation a success.
Brian Holz, Vice President Space Systems, OneWeb, said, "MDA has deep experience in communication satellite payloads and the design of mass produced satellite components. We welcome their support of OneWeb's mission to enable affordable Internet access for everyone with a constellation that will bring more than 10 Terabits per second of new capacity into hard-to-reach areas around the globe."
Daniel Friedmann, MDA's president and CEO, said, “MDA's strategy is to become a key supplier for LEO satellite constellations in both Earth observation and communications and we recognize that OneWeb's architecture, team, technology and skill sets are creating a whole new opportunity for satellites and global communications. Currently we are building an advanced Earth observation constellation, and we look forward to supporting this large and very innovative communications system."
OneWeb's mission is to enable affordable Internet access for everyone. It is building a global communications network with a constellation of Low Earth Orbit satellites, which will provide connectivity to billions of people around the world.
With more than 10 terabits per second of new capacity, it will bring voice and data access to consumers, businesses, schools, healthcare institutions and other end users.
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 strategic business relationship entered into for the construction of a fleet of microsatellites. 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, but are not limited to, the ability of the parties to finalize contractual terms and conditions. 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: unexpected technical difficulties; the introduction of competing technologies; deterioration of economic and financial conditions; changes in government policy and regulation; risks associated with satellite manufacturing, including competition, cyclicality of end-user markets, contractual risks, creditworthiness of customers, performance of suppliers and management of factory and personnel; risks associated with operating satellites and providing satellite services, including satellite construction or launch delays, launch failures, in-orbit failures or impaired satellite performance; the hiring and retention of key employees; risk associated with financial factors such as volatility in exchange rates, increases in interest rates and restrictions on access to capital; failure of third parties and subcontractors; failure of systems to meet performance requirements; failure to anticipate changes in technology, technical standards and offerings or compliance with the requisite standards; and other risks including litigation. Readers should not place undue reliance on any such forward-looking statements, which speak only as of the date they were made. Except as required by law, MDA disclaims any obligation or undertaking to update or revise the information herein.
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.
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