MONTREAL — (BUSINESS WIRE) — May 10, 2019 — MDA, a Maxar company (NYSE: MAXR) (TSX: MAXR), has been awarded an initial contract value of CAD $39 million with Public Services and Procurement Canada. The initial contract includes the development and manufacturing of 10 flight-ready Search and Rescue/Global Positioning System (SAR/GPS) repeaters to be launched on the U.S. Air Force’s GPS III satellites, as well as several automated test systems and simulators.
The contract includes options for an additional 12 flight model repeaters which, if exercised by Canada, would increase the total contract value in excess of $55 million. Once in orbit 22,000 kilometres above the Earth, MDA’s MEOSAR repeater will be able to detect signals from emergency beacons and retransmit the signals to receiver stations on the ground. The emergency messages can then be sent to appropriate authorities so that people in danger can be quickly located and rescued.
“This project builds on MDA’s previous successes and ensures MDA’s commitment to develop innovative solutions that are vital to Canada’s sovereignty and security,” said Mike Greenley, group president of MDA. “Once qualified as operational, this system will dramatically improve both the speed and location accuracy for detecting beacons, and as a result greatly enhance the coordination and dispatch of search and rescue teams to help people in distress.”
Satellites have become an integral part of Canada’s national infrastructure, providing critical services on a daily basis to individual Canadians and government agencies. With Canada’s vast geography and long coastlines, satellites support a wide variety of applications, from Search and Rescue, to ecosystem and climate change monitoring, telecommunications, navigation and ice mapping, and fisheries and natural resource management.
The operations of DigitalGlobe, SSL and Radiant Solutions were unified under the Maxar brand in February; MDA continues to operate as an independent business unit within the Maxar organization.
MDA is an internationally recognized leader in space robotics, space sensors, satellite payloads, antennas and subsystems, surveillance and intelligence systems, defense and maritime systems, and geospatial radar imagery. MDA's extensive space expertise and heritage translates into mission-critical defence and commercial applications that include multi-platform command, control and surveillance systems, aeronautical information systems, land administration systems and terrestrial robotics. MDA is also a leading supplier of actionable mission-critical information and insights derived from multiple data sources. Founded in 1969, MDA is recognized as one of Canada's most successful technology ventures with locations in Richmond, Ottawa, Brampton, Montreal, Halifax and the United Kingdom. For more information, visit www.mdacorporation.com.
About Maxar Technologies
As a global leader of advanced space technology solutions, Maxar is at the nexus of the new space economy, developing and sustaining the infrastructure and delivering the information, services, and systems that unlock the promise of space for commercial and government markets. The operations of DigitalGlobe, SSL and Radiant Solutions were unified under the Maxar brand in February; MDA continues to operate as an independent business unit within the Maxar organization. As a trusted partner with 5,900 employees in over 30 global locations, Maxar provides vertically integrated capabilities and expertise including satellites, Earth imagery, robotics, geospatial data and analytics to help customers anticipate and address their most complex mission-critical challenges with confidence. Every day, billions of people rely on Maxar to communicate, share information and data, and deliver insights that Build a Better World. Maxar trades on the New York Stock Exchange and Toronto Stock Exchange as MAXR. For more information, visit www.maxar.com.
Certain statements and other information included in this release constitute "forward-looking information" or "forward-looking statements" (collectively, "forward-looking statements") under applicable securities laws. Statements including words such as "may," "will," "could," "should," "would," "plan," "potential," "intend," "anticipate," "believe," "estimate" or "expect" and other words, terms and phrases of similar meaning are often intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Forward-looking statements involve estimates, expectations, projections, goals, forecasts, assumptions, risks and uncertainties, as well as other statements referring to or including forward-looking information included in this presentation.
Forward-looking statements are subject to various risks and uncertainties which could cause actual results to differ materially from the anticipated results or expectations expressed in this presentation. As a result, although management of the Company believes that the expectations and assumptions on which such forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. The risks that could cause actual results to differ materially from current expectations include, but are not limited to, the risk factors and other disclosures about the Company and its business included in the Company's continuous disclosure materials filed from time to time with U.S. securities and Canadian regulatory authorities, which are available online under the Company's EDGAR profile at www.sec.gov, under the Company's SEDAR profile at www.sedar.com or on the Company's website at www.maxar.com.