|
For immediate release: April 19, 2007 MDA's German Joint Venture, Wertweiser, Signs Up Another CustomerRichmond, B.C. - MacDonald, Dettwiler and Associates Ltd. (TSX: MDA), a provider of essential information solutions, announced today that Wertweiser GmbH, its joint business initiative with HVBExpertise GmbH in Germany, has signed a contract with Deutsche Kreditbank AG, Berlin to provide valuations data to support its mortgage origination and underwriting of residential properties across Germany. Deutsche Kreditbank AG is one of the leading direct banks in Germany with more than 460,000 private customers and a loan portfolio of about 32 billion EURO. "This second customer enables us to deliver services through web applications, and reinforces our position in the German real estate valuation market. We expect our web applications for this customer to go operational after a period of integration" said Raymond Trotz, chairman of Wertweiser Supervisory Board. Wertweiser's information solution is designed to reduce the overall time and cost involved in professional real estate valuation by automating labor-intensive parts of this process using analytical algorithms and models which draw on extensive property data sources accumulated over time. This service is marketed to financial institutions, such as banks, building and loan associations, and insurance companies that are active in the German real estate market.
About MDA
Related Websites: For more information, please contact: Wendy Keyzer External Relations MDA Telephone: 604-231-2743 E-mail: wendy@mdacorporation.com |