MDA receives additional amendments to Design Phase of Canada's RADARSAT Constellation Mission
RICHMOND, BC, Sept. 3, 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 multiple contract amendments with the Canadian Space Agency (CSA) totaling CA$18 million to complete work in the Design Phase of the RADARSAT Constellation Mission, and to enable the remaining long lead procurement of parts and equipment, as planned. These amendments are funded from CSA's approved budget for the Design Phase and support the Build Phase contract announced January 2013, which is currently on-going.
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 a contract related to a government project. 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, changes in government priorities, mandates, policies, funding levels, contracts and regulations, partial or complete termination of a government funded project, 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.
SOURCE MacDonald, Dettwiler and Associates Ltd.