MDA signs long-term strategic contract with US Air Force
RICHMOND, BC, June 30, 2015 /CNW/ - MacDonald, Dettwiler and Associates Ltd. ("MDA" or the "Company") (TSX:MDA), a global communications and information company, today announced that it has signed an Indefinite Delivery/Indefinite Quantity (IDIQ) contract with a total value over five years of up to CA$63.2 million with the U.S. Air Force (USAF). The initial authorization under this contract is for CA$6 million.
Under this contract, MDA will support the USAF with a high-precision flight path safety system that aids the design of airport approach and departure flight paths for pilots, allowing them to safely navigate in and out of airfields. The USAF system is deployed worldwide, supporting U.S. Department of Defense operations wherever operations to instrument flight rules are required.
This contract advances MDA's 30 year history of delivering advanced aviation solutions to civil authorities and defence customers, leveraging MDA's proven expertise of complex system integration and space-based information solutions. MDA's aviation capabilities are based on our ability to work with customers to develop very large, real time safety-critical systems and provide lifetime modernization and support services to customers around the world.
About MDA
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, primarily in the Communications sector and the Surveillance and Intelligence sector. In addition, the Company conducts a significant amount of advanced technology development.
MDA's established global customer base is served by more than 4,800 employees operating from 11 locations in the United States, Canada, and internationally.
The Company's common shares trade on the Toronto Stock Exchange under the symbol "MDA."
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Forward-Looking Statements
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 with an intergovernmental agency. 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 intergovernmental 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, but are not necessarily limited to: changes in government or intergovernmental priorities, mandates, funding levels, contracts and regulations; failure of third parties and subcontractors; failure of systems to meet performance requirements; failure of customer to procure additional work beyond the initial authorization; failure to anticipate changes in technology, technical standards and offerings or to comply 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.
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