MDA to provide subsystems for multiple communication satellites
RICHMOND, BC, Sept. 10, 2013 /CNW/ - MacDonald, Dettwiler and Associates Ltd. ("MDA" or the "Company") (TSX: MDA), a global communications and information company, announced today that it has started work under three Authorizations to Proceed (ATP), totaling approximately CA$5 million to provide multiple communications satellite subsystems. The contracts are expected to total approximately CA$22 million and are likely to finalize over the coming months.
One ATP is for the provision of multiple communications satellite subsystems to EADS Astrium. The subsystems are intended for the Telstar 12N telecommunications satellite that will provide coverage over Europe, North America, South America and the Caribbean.
Two ATP's were received from undisclosed customers to provide advanced satellite subsystems to be integrated into two telecommunications satellites.
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.
Caution Regarding Forward Looking Information and Other Matters
This press release contains certain forward-looking statements and information which reflect the current view of MacDonald, Dettwiler and Associates Ltd. (the "Company" or "MDA") with respect to future events and financial performance. Forward-looking statements generally can be identified by the use of forward-looking terminology such as "may", "will", "would", "could", "should", "expect", "intend", "estimate", "anticipate", "plan", "foresee", "believe" or "continue", or the negatives of such terms or variations of them or similar terminology. The forward-looking statements in this press release are based on MDA's current expectations, estimates, projections and assumptions made in light of its experience and perception of historical trends. Forward-looking statements are subject to risks and uncertainties, many of which are beyond MDA's control and the effects of which can be difficult to predict.
With regard to the authorizations to proceed ("ATP's") there can be no assurance that contracts resulting from the ATP's will be finalized and entered into by MDA and the third party, or what the total value of the contracts may be.
You are referred to the risk factors described in MDA's most recent annual Management's Discussion and Analysis, Annual Information Form and other documents on file with the Canadian securities regulatory authorities, available on SEDAR, www.sedar.com or www.mdacorporation.com. All such factors should be considered carefully, as well as other uncertainties and potential events, and the inherent uncertainty of forward-looking statements, when making decisions with respect to MDA. The forward-looking statements and information contained in this press release represent MDA's views only as of today's date. All such statements are made pursuant to the "safe harbour" provisions of applicable Canadian and U.S. securities laws. MDA disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, other than as required by law, rule or regulation. You should not place undue reliance on forward-looking statements.
The Toronto Stock Exchange has neither approved nor disapproved the form or content of this release.
SOURCE MacDonald, Dettwiler and Associates Ltd.