RICHMOND, BC, Nov. 20, 2013 /CNW/ - MacDonald, Dettwiler and Associates Ltd. ("MDA" or the "Company") (TSX: MDA), a global communications and information company, announced today that it has been authorized to proceed with development of a Payload Orbital Delivery system (POD) for the DARPA Phoenix mission. The expected contract value for full development of the flight system is US$6 million.
The POD concept is an innovative and cost-effective solution to rapidly deliver small packages to geostationary Earth orbit (GEO) using surplus capacity on regularly launched communication satellites. PODs seeks to demonstrate a new faster delivery capability for DARPA's Phoenix mission and capability for future applications of assembly and servicing.
The POD concept aims to expand the hosted payload market by offering a flexible launch and delivery solution for smaller, unconventional payloads or missions. Specific to the Phoenix demo mission, the POD would deliver a new class of very small 'satlets,' similar in mass to nano satellites, which, when robotically attached to all or part of a retired satellite via Phoenix, would show the ability to create a new space system in orbit.
"MDA is eager to move forward on key capabilities that the Phoenix mission intends to demonstrate," said Don Osborne, MDA's vice president responsible for this business. "We believe the state of technology readiness, and our proven track record in hosted payloads and on-orbit servicing, would enable the success of the proposed Phoenix Demonstration Mission and sets the stage for future operational applications."
Details of the original announcement were provided in the Company's news release dated October 18, 2012.
[Distribution Statement A: Approved for Public Release, Distribution Unlimited]
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 authorization to proceed under 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.