MDA selected to provide communications payload for Israeli satellite
Published on Sunday, 24 June 2012 20:33 Written by TradersHuddle Staff
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 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.
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 alike.
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 requirements.
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.
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