Richmond, BC -April 23, 2014- MacDonald, Dettwiler and Associates Ltd. (“MDA” or the “Company”) (TSX: MDA), a global communications and information company, announced today that it has signed a contract with the Canadian Space Agency to develop the mission concept for an operational Canadian Hyperspectral Mission. MDA will lead a team of experts to develop a satellite constellation concept to collect hyperspectral imagery around the globe and specifically in Canada and its coastal waters on a weekly basis. This mission supports public priorities such as monitoring territorial sovereignty and national security, managing environmental change, and responsibly exploiting Canada’s agricultural and natural resources to secure the long-term prosperity of all Canadians. The focus of the new proposed system is to provide fast revisit over large areas of Canada to track environment change relating to ecosystem and agriculture productivity.
Hyperspectral imaging, a major step forward in space-based remote sensing innovation, gathers much richer and sophisticated information about the world’s oceans, lakes, land, and vegetation. Hyperspectral remote sensing collects the full spectrum of light reflected from the Earth’s surface and separates it into dozens of spectral “bands”. Analyzing the spectral bands reflected by a feature on the ground can reveal its composition and evolution providing critical information to environmental, security and natural resource decision makers.
Don Osborne, MDA’s group vice president of Information Systems said, “A Canadian operational hyperspectral mission can provide tremendous value to Canada resulting in a leap forward in national security, sovereignty and economic prosperity for all Canadians. We have assembled a strong team of Canada’s leading space technology companies to demonstrate to the world how innovative Canada can be in the emerging domain of hyperspectral remote sensing.”
MDA is a global communications and information company providing operational solutions to commercial and government organizations worldwide.
MDA’s business is focused on markets and customers with strong repeat business potential. In addition, the Company conducts a significant amount of advanced technology development.
MDA’s well-established global customer base is served by more than 4,800 employees operating from 11 offices located in the United States, Canada, and internationally.
The Company’s common shares trade 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 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, but are not limited to: changes in government priorities, mandates, policies, funding levels, contracts and regulations; failure of third parties and subcontractors; 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 under the Company’s profile 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.
For more information, please contact:
MDA External Relations