MacDonald, Dettwiler and Associates Ltd. (TSX:MDA) announced Friday that it has signed a satellite technology contract with the Russian Radio Research and Development Institute (NIIR) worth more than $200 million.
Vancouver-based MacDonald, Dettwiler will provide what it described only as "two advanced technology solutions" for the Express AM5 and AM6 satellites between 2011 and 2012 to the branch of Russia's Ministry for Telecommunications and Mass Communications.
MDA vice-president Don Osborne said in a statement the contract "is aligned with our market focus in the (region) and (that) working with NIIR, a new customer for MDA, strengthens our presence in Russia."
The satellites, scheduled to launch in 2012, are designed to provide broadcasting services, including digital TV, radio, multimedia services and mobile communications.
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The satellites are owned and operated by the Russian Satellite Communications Company, the major Russian satellite operator, with a fleet of 11 communications and broadcasting satellites.
MDA says Russia is increasing its demand for satellites to meet the country's growing needs in information provision.
In early November, the company also won a $46-million contract from the Canadian Space Agency to develop prototypes and new robotic systems for future space missions.
About 35 per cent of MDA's roughly $1 billion in annual revenues come from its Space Division, also known as the information services. The rest comes from Information Products, which is the real estate services it provides.
MDA employs more than 3,200 people in the United States, the United Kingdom and Canada.
Shares in the company were down 73 cents at $38.50 in afternoon trading Friday on the Toronto Stock Exchange.