KANATA, ONTARIO--(Marketwire - April 8, 2009) - All amounts in this release are in Canadian Dollars.
Following previous notification of a pending contract award, Calian Technologies Ltd. (TSX:CTY) is pleased to report that the Department of National Defence has now executed the limitation of expenditure contract for the continued provision of Training and Capability Development Support Services for the Directorate of Land Synthetic Environments (DLSE), which is headquartered at CFB Kingston, Ontario and maintains satellite operations across Canada.
As previously released on March 31, 2009, the initial five-year contract is valued at slightly over $100 million. The contract also contains a number of options for an additional four years for a potential total duration of nine years and a total value of approximately $195 million. This Contract will allow Calian to continue to provide constructive simulation training to the Army through DLSE, in a relationship that first began in 1995 and if used to its fullest extent, will represent a significant increase in Calian's current level of support to DLSE over its term. The new contract is expected to start June 1, 2009 and will replace the existing contract which had a remaining backlog of approximately $23 million with a current consumption profile of less than 2 years.
For more detail information on this contract, please refer to the press release dated March 31, 2009.
"This award is a testament to the quality, dedication and adaptability that our DLSE delivery team has demonstrated since 1995. We look forward to continuing to evolve and develop our capabilites and skills with new and emerging technologies to meet the ever evolving synthetic environment requirements of today's Canadian Forces.," said Tom Coates, Vice President and General Manager, Business and Technology Services.
Calian sells technology services to industry and government in Canada and around the world. Calian provides customers with ready access to an exceptional team of engineers, telecommunications and technology professionals, health care professionals and other highly qualified staff. The Business and Technology Services Division augments customer workforces with flexible short and long-term placements, recruitment and outsourcing of engineering, health care professionals and other skilled professionals. The Systems Engineering Division plans, designs and implements solutions for many of the world's space agencies and leading communications satellite manufacturers and operators, as well as providing contract manufacturing services for customers in North America.
Certain information included in press releases on this site is forward-looking and is subject to important risks and uncertainties. The results or events predicted in these statements may differ materially from actual results or events. Factors which could cause results or events to differ from current expectations include, among other things: the impact of price competition; the dependence on new product development; the impact of rapid technological and market change; the ability of Calian to integrate the operations and technologies of acquired businesses in an effective manner; general industry and market conditions and growth rates; international growth and global economic conditions, particularly in emerging markets and including interest rate and currency exchange rate fluctuations; and the impact of consolidations in the business services industry. For additional information with respect to certain of these and other factors, see the reports filed by Calian with the Ontario Securities Commission. Calian disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. No assurance can be given that actual results, performance or achievement expressed in, or implied by, forward-looking statements within this disclosure will occur, or if they do, that any benefits may be derived from them.
FOR FURTHER INFORMATION PLEASE CONTACT:
Calian Technologies Ltd.
President and Chief Executive Officer
Calian Technologies Ltd.
Chief Financial Officer