RICHMOND, BC, Feb. 27, 2013 /CNW/ - MacDonald, Dettwiler and Associates Ltd. ("MDA" or the "Company") (TSX: MDA), a provider of essential information solutions, announced today that it has received a contract for CA$15.8 million from the Canadian Space Agency (CSA) for the preliminary design of an advanced technology solution for NASA's New Frontiers Program—OSIRIS-REx, the next planetary science mission to another celestial body in our solar system. Total contract value for initial phases received to-date are valued at $19 million.
NASA plans to launch a spacecraft in 2016 to study and return an asteroid sample to Earth in 2023. As the spacecraft comes within seven kilometers of the asteroid, MDA's solution will be used to perform comprehensive surface mapping operations that provide topographical maps that will assist in navigating the spacecraft towards the asteroid and identifying potential sample acquisition sites.
This contract builds on MDA's heritage of flight-proven science instruments that have contributed to helping to revolutionize our understanding of the early Solar system, planet formation and the origin of life. MDA announced in June 2010 it was on candidate teams selected by NASA to conduct initial studies for a deep space exploration mission.
The CSA is supporting a Canadian Science team and the development of the science instrument for the Mission.
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 government 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 contracts 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, mandates, policies, funding levels, contracts and regulations; 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.