Company will develop new space technologies under new contracts totalling more than $4M CAD
MONTREAL, May 30, 2018 /CNW/ - MDA, a Maxar Technologies company (formerly MacDonald, Dettwiler and Associates Ltd.), (NYSE: MAXR; TSX: MAXR), applauds remarks made by the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development during his May 25 announcement of new investments in innovative Canadian space technologies at MDA's Montreal facility. Minister Bains announced the award of more than $26.7 million CAD in contracts to 33 Canadian companies, of which MDA received five contracts totaling more than $4 million CAD.
"Nearly every aspect of our daily lives is touched and made better by space innovation," said Minister Bains. "Space is an economic powerhouse for Canada," both in jobs and economic revenue, he added.
"As a recipient of five Space Technology Development Program awards from the Canadian Space Agency under this investment, we are delighted to further our development in space robotics for deep space exploration, space debris removal and satellite antenna advancements," said MDA Group President Mike Greenley. "It is imperative to continue accelerating the next generation of innovation in space technology to bring about advances here on Earth and build a better world."
After his remarks, Minister Bains, Canadian astronaut Jeremy Hansen, and members of the media toured MDA's satellite manufacturing facility, where engineers are completing development of the RADARSAT Constellation Mission (RCM) spacecraft the company is building for the Canadian Space Agency. The three satellites are being prepared for launch later this year to enhance the Canadian government's national security and environmental applications.
"Once launched, the RADARSAT Constellation Mission will provide information on our planet for maritime surveillance, and monitoring our ecosystems and agriculture, as well as the impacts of climate change, Hansen said. "These three satellites are actually being tested right here at MDA, and I am looking forward to seeing Canada's future eyes on the Earth."
MDA is one of four companies within Maxar Technologies, a global leader in satellites, Earth imagery, robotics, geospatial data and analytics. Together these companies are accelerating innovation for the new space economy and helping customers anticipate and address their most complex mission-critical challenges with confidence.
MDA is an internationally recognized leader in space robotics, satellite payloads, antennas and subsystems, surveillance and intelligence systems, defence 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 and Halifax. MDA is a Maxar Technologies company (TSX: MAXR; NYSE: MAXR). For more information, visit www.mdacorporation.com.
About Maxar Technologies
Maxar Technologies (formerly MacDonald, Dettwiler and Associates) is a leading global provider of advanced space technology solutions for commercial and government markets including satellites, Earth imagery, robotics, geospatial data and analytics. As a trusted partner, Maxar Technologies provides unmatched integrated capabilities, solutions and expertise to help customers anticipate and address their most complex mission-critical challenges with confidence. With more than 6,500 employees in over 31 locations, the Maxar Technologies portfolio of commercial space brands includes MDA, SSL, DigitalGlobe and Radiant Solutions. Every day, billions of people rely on Maxar Technologies to communicate, share information and data, and deliver insights that Build a Better World. Maxar trades on the Toronto Stock Exchange and New York Stock Exchange as MAXR. For more information visit www.maxar.com.
This release contains forward-looking statements and information, which reflect the current view of Maxar Technologies Ltd. (the "Company") with respect to future events and financial performance. 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. The Company cautions readers that should certain risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary significantly from those expected.
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 and U.S. securities regulatory authorities, which are available online under the Company's SEDAR profile at www.sedar.com, under the Company's EDGAR profile at www.sec.gov or on the Company's website at www.mdacorporation.com.
Wendy Keyzer | MDA Media Contact | 1-604-231-2743 | email@example.com
Jason Gursky | Maxar Investor Relations | 1-303-684-2207 |
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