MDA signs contract in excess of CA$100 million to provide communications payload for Israeli AMOS-6 satellite
RICHMOND, BC, Dec. 10, 2012 /CNW/ - MacDonald, Dettwiler and Associates Ltd. (TSX: MDA), a provider of essential information solutions, announced today that it has signed a contract in excess of CA$100 million with Israel Aerospace Industries Ltd. to supply the communications payload solution for the AMOS-6 satellite to be launched in 2015. In June 2012, MDA announced it had started work on this contract under an Authorization To Proceed.
MDA is a unique 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 5,000 employees operating from 18 offices located in the United States, Canada, and internationally.
The Company's common shares trade under the symbol TSX:MDA.
Israel Aerospace Industries (IAI) is one of Israel's leading technological-industrial companies with around 16,500 employees, and generates annual sales of approximately US$3.3 billion. The Company has gained worldwide recognition as the leader in the development of aviation and aerospace technology in the military and civilian markets alike.
IAI provides Israel Defense Forces (IDF) and its foreign customers with unique, high-quality technological solutions that meet a wide range of needs on the ground, in the sea, in the air, in space and in the field of homeland security. The Company is a world leader in a wide range of advanced technologies, including development, production, renovation, upgrading, repair and maintenance of aircraft, missiles, launchers, communications satellites, observation satellites and ground services, electronic systems, avionics systems, advanced radar, precision-guided munitions and unmanned aerial vehicles.
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. 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 underlying contracts, including those with any government 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 changes in government priorities, funding levels, contracts and regulations; failure of third parties and subcontractors; satellite failure 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 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.