MDA increases provision of RADARSAT-2 information and services
RICHMOND, BC, Oct. 30, 2013 /CNW/ - MacDonald, Dettwiler and Associates Ltd. ("MDA" or the "Company") (TSX: MDA), a global communications and information company, announced today that it has signed three contracts totaling approximately CA$2.5 million for the provision of RADARSAT-2 information and services.
Two contracts were signed with an undisclosed national oil company for MDA to provide space-based monitoring for offshore exploration and production activity, and extend its provision of RADARSAT information. MDA's monitoring solutions for the oil industry help identify and then track the rate and direction of oil slicks at sea.
The third contract is to provide RADARSAT-2 information to the National Oceanic and Atmospheric Administration. The contract includes renewal options for two additional years. The information will be used to provide ice products and services to meet the strategic, operations, and tactical requirements of the United States across a global area of responsibility.
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 4,500 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 various 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 the subject 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. Risks that could cause actual results to differ from current expectations include, but are not limited to: changes in a contracting entity's priorities, mandates, policies, funding levels, contracts and regulations; cancelation of contract or change of requirements; 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.
SOURCE MacDonald, Dettwiler and Associates Ltd.