Richmond's MacDonald, Dettwiler and Associates Ltd. (TSX:MDA) has signed a $10 million contract with the prime contractor for two new telecommunication satellites.
The contract with global aerospace company EADS Astrium is for the Alphasat I-XL mission, which will add to Inmarsat's network of global mobile satellite services.
Once launched, the satellite will provide increased capacity to handle more than 750 channels with improved quality, especially for satellite phone users.
MDA's share price range during the past week: between $31.61 and $34.26; 52-week high: $35: 52-week low: $15.61.