MacDonald Dettwiler & Associates Ltd. has won a contract to develop satellites to monitor Canadian territory for military and environmental purposes, the federal government said.
MDA, based in Richmond, British Columbia, will help build three RADARSAT satellites to be launched in 2018, Industry Minister Christian Paradis said in an e-mailed statement today.
The contract is worth C$706 million ($716 million) over seven years, the company said in a statement. MDA shares rose 4.6 percent to C$59.90 at 12:36 p.m. in Toronto.
The satellites will monitor Canada’s land, oceans and coastal approaches daily, and as many as four times a day in the far north, the government said in its release. Data will be used by the Department of National Defence, Environment Canada and Natural Resources Canada, it said.
The government allocated C$497 million over five years in its 2010 budget to develop the next phase of the RADARSAT mission. Existing satellites provide data used to support the military and track climate change.
In 2008, the government blocked the acquisition of MDA’s aerospace division by Alliant Techsystems Inc. under Canada’s foreign-takeover law.