MacDonald, Dettwiler and Associates Ltd. (“MDA” or the “Company”) (TSX:MDA), a global communications and information company, today announced that its Quebec subsidiary has signed a Letter of Intent with the Government of Quebec to establish a Satellite Centre of Excellence in Montreal. Quebec will provide financial support of up to:
- CA$45 million as a royalty-based contingent venture loan for a next-generation digital payload satellite system development and manufacturing project; and,
- CA$3 million in the form of a non-refundable financial contribution which will be used to support the establishment of the Satellite Centre of Excellence.
“MDA is a world leader in satellite systems, and is pleased to be collaborating with the Government of Quebec on the establishment of our Satellite Centre of Excellence. Today’s announcement demonstrates and reinforces MDA’s ongoing commitment to Quebec and Canada. These innovations will deliver significant value to our customers and will secure our position as a leader in this market,” said Dr. Marc Donato, Vice President of Operations, Information Systems Group.
About MDA
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, primarily in the Communications sector and the Surveillance and Intelligence sector. In addition, the Company conducts a significant amount of advanced technology development.
MDA’s established global customer base is served by more than 4,800 employees operating from 15 locations in the United States, Canada, and internationally.
The Company’s common shares trade on the Toronto Stock Exchange under the symbol “MDA.”
Related Websites
www.mdacorporation.com
