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MDA INITIATES WORK ON A NEW DIGITAL SATELLITE CONSTELLATION

Newswire.ca - Fri Nov 17, 2023

Signs $180 million Authorization to Proceed contract as prime contractor

BRAMPTON, ON, Nov. 17, 2023 /CNW/ - MDA Ltd. (TSX: MDA), a leading provider of advanced technology and services to the rapidly expanding global space industry, announced today that it has received an Authorization to Proceed (ATP) contract from an undisclosed customer to start work on a new Non-Geostationary Orbit (NGSO)* satellite constellation. The ATP, valued at approximately $180 million, is to immediately commence engineering and programmatic activities, including the procurement of long-lead items.

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