Technology from Richmond-based Macdonald, Dettwiler and Associates Ltd. (TSX:MDA) will be used in two of the latest Russian communication satellites currently under development.
MDA has won a $200 million contract with the Russian Radio Research and Development Institute (NIIR) to provide advanced technology for Russia's Express AM5 and Express AM6 satellites.
The satellites, scheduled to launch in 2012, are designed to provide affordable digital TV and radio broadcasting for Russians as well as provide mobile communications for Russia's government and presidential office.
MDA plans to deliver its technology between the fourth quarter of 2011 and the first quarter of 2012. The company said the contract is part of its focus to expand its market share in the Commonwealth of Independent States region.
This is MDA's first contract with the NIIR, an enterprise of Russia's Ministry for Telecommunications and Mass Communications. Founded in 1949 it's focused in creating ratio communication systems, and satellite and terrestrial TV and sound broadcasting for the country.
MDA's share price range during the past week: between $37.50 and $39.63; 52-week high: $39.63; 52-week low: $16.