MDA signs two contracts with Russian firm worth a total of more than $60M
MacDonald, Dettwiler and Associates Ltd. (TSX:MDA) said Wednesday it has signed two contracts with the Russian Radio Research and Development Institute worth a total of more than US$60 million.
The Vancouver-area company said it will provide key sub-systems for the Express AM5 and Express AM6 satellites in a contract worth more than $45 million.
MDA also said it won a contract worth more than $15 million in connection with the Lutch-M weather satellite.
The Russian Federal Service on Hydrometeorology and Environmental Control will use the satellite for monitoring weather patterns over Russia.
About 35 per cent of MDA's roughly $1 billion in annual revenues come from its Space Division, also known as the information services. The rest comes from Information Products, which is the real estate services it provides.
MDA employs more than 3,200 people in the United States, the United Kingdom and Canada.