MacDonald, Dettwiler and Associates Ltd. (TSX:MDA) has won a $40 million contract to provide regular monitoring of Canada's coastline with a new trio of surveillance satellites.
The Richmond company's radarsat constellation mission (RCM) will consist of three satellites that will provide surveillance and monitoring of Canada's coastal zones, northern territories, Arctic waterways, maritime areas of strategic and defence interests around the world.
MDA's Radarsat-1 and Radarsat-2 are single satellite systems. The RCM is designed to include up to six satellites.
MDA said completion of the initial three-satellite phase will take up to 16 months to complete and deliver.
The company's share price range during the past week: between $20.60 and $22.49; 52-week high: $50.90; 52-week low: $15.61.