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Published in Stocks and Investing on Thursday, June 24th 2010 at 14:11 GMT by Market Wire
RICHMOND, BC, June 24 /CNW/ - MacDonald, Dettwiler and Associates Ltd. (TSX: MDA), a provider of essential information solutions, announced today it has signed a multi-million dollar contract with e-GEOS, a leading provider of satellite services in Europe to provide a RADARSAT ground information solution into their existing ground station in Matera, Italy. The solution includes a RADARSAT-2 and RADARSAT-1 reception and processing capability and grants RADARSAT data distribution rights to e-GEOS for the European Union in support of a variety of maritime and land surveillance applications.
This contract represents MDA's tenth RADARSAT-2 ground information solution. This number includes both new and upgraded systems.
About MDA
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.
About e-GEOS
e-GEOS, a joint venture between Telespazio (80%) and the Italian Space Agency (20%), is active in all areas relating to earth observation, from collecting and processing satellite data to developing and marketing products. In 2009, e-GEOS acquired control of Telespazio's Earth Observation division, which had over 20 years' experience in developing innovative solutions for all customer categories, and of Eurimage SpA, a company that manufactures earth observation satellite products and services.
Related Websites:
[ www.e-geos.it ]
Forward-Looking Statements
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This release contains forward-looking statements and information, which reflect the current view of MacDonald, Dettwiler and Associates Ltd. with respect to future events and financial performance. The forward-looking statements in this regard include statements regarding the award of a 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. Any such forward-looking statements are subject to risks and uncertainties and MDA's actual results of operations could differ materially from historical results or current expectations. The factors and assumptions underlying the forward-looking statements in this release include contracts not being terminated and the ongoing functioning of MDA's RADARSAT-2 satellite. 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 failure of third parties and subcontractors; satellite failure; failure of systems to meet performance requirements and failure to anticipate changes in technology, technical standards and product offerings or 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 MDA's continuous disclosure materials filed from time to time with Canadian securities regulatory authorities, which are available online at [ www.sedar.com ] or on MDA's website at [ www.mdacorporation.com ].
The Toronto Stock Exchange has neither approved nor disapproved the form or content of this release.
