Richmond, B.C. - MacDonald, Dettwiler and Associates Ltd. (TSX: MDA), a provider of essential information solutions, announced today that it has signed a contract amendment for CA$11.9 million to increase its provision of RADARSAT-2 satellite imagery to Europe’s Global Monitoring for Environment and Security (GMES) program. The additional RADARSAT-2 imagery addresses the gap in data availability created by the recent loss of the European Space Agency’s (ESA) ENVISAT satellite and fulfills ESA’s maritime monitoring needs until the full operational capacity of the Sentinel-1A satellite is available, which is expected around mid-2014.
The RADARSAT-2 imagery will be used to provide mission critical information for sea ice monitoring of the Baltic Sea, Arctic Ocean, and Antarctic Ocean throughout the ice seasons, improving the safety of maritime navigation and supporting environmental monitoring as part of the GMES program. GMES was established to provide users in Europe with access to accurate and timely information services to better manage the environment, understand and mitigate the effects of climate change and ensure civil security.
MDA provides advanced information solutions that capture and process vast amounts of data, produce essential information, and improve the decision making and operational performance of business and government organizations worldwide.
Focused on markets and customers with strong repeat business potential, MDA delivers a broad spectrum of information solutions, ranging from complex operational systems, to tailored information services, to electronic information products.
The Company's common shares trade on the Toronto Stock Exchange 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 and amendment 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 government or 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 changes in government or intergovernmental priorities, funding levels, contracts and regulations; satellite failure; 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 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.