Richmond's MacDonald, Dettwiler and Associates Ltd. (TSX:MDA) has signed a $4 million contract with the European Space Agency to provide data and information processing technology for the agency's Sentinel-1 radar satellite.
MDA's technology will process the raw data from the satellite, which can be used to deal with crises and emergencies, create maps for city planning, manage ocean resources, improve maritime transportation safety and identify environmental hazards and pollution.
The ESA satellite is expected to launch in 2011.
MDA's share price range during the past week: between $27.69 and $28.20; 52-week high: $50.90; 52-week low: $27.45.