MDA selected to provide communications payload for Israeli satellite
RICHMOND, BC, June 24, 2012 /CNW/ – MacDonald, Dettwiler and Associates
Ltd. (TSX: MDA), a provider of essential information solutions, announced today that
it has been selected by Israel Aerospace Industries Ltd. to supply the
communications payload solution for the AMOS-6 satellite to be launched
in 2014. The contract, in excess of CA$90 million, is expected to be
finalized over the coming month. MDA has started work under an
Authorization To Proceed.
Once launched, AMOS-6 is planned to enhance the capacity of the existing
AMOS satellite constellation, owned and operated by Spacecom, Israel’s
satellite communications service provider. The constellation provides a
large range of fixed and mobile communication services in the Middle
East, Central and Eastern Europe, Central Asia, and Africa. The demand
for satellite systems to meet the growing needs of information
provision has opened a new market in Israel for MDA’s communications
products and services.
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
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.
Israel Aerospace Industries (IAI) is one of Israel’s leading
technological-industrial companies with around 16,500 employees, and
generates annual sales of approximately US$3.3 billion. The Company has
gained worldwide recognition as the leader in the development of
aviation and aerospace technology in the military and civilian markets
IAI provides Israel Defense Forces (IDF) and its foreign customers with
unique, high-quality technological solutions that meet a wide range of
needs on the ground, in the sea, in the air, in space and in the field
of homeland security. The Company is a world leader in a wide range of
advanced technologies, including development, production, renovation,
upgrading, repair and maintenance of aircraft, missiles, launchers,
communications satellites, observation satellites and ground services,
electronic systems, avionics systems, advanced radar, precision-guided
munitions and unmanned aerial vehicles.
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, funding levels,
contracts and regulations; failure of third parties and subcontractors;
satellite failure and failure of systems to meet performance
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.
SOURCE MacDonald, Dettwiler and Associates Ltd.