OTTAWA, ONTARIO, Nov. 12, 2009 (Marketwire) -- Following previous notification of an Authorization to Proceed, Calian Technologies Ltd. (TSX:CTY) is pleased to report that its System Engineering Division (SED) and the European Space Agency (ESA) have finalized all details and have executed a contract for the provision of a third 35-metre deep space antenna and RF system destined for South America. The full contract value of $39 million represents a $24 million increase over the Authorization to Proceed that was previously announced in August 2009.
This contract for a third antenna to be installed in Argentina, complements two similar large antenna systems previously provided by SED in Western Australia and Spain and rounds out the ESA deep space network. At 35 meters in diameter and with full-motion capability, the ESA antenna network will encompass some of the largest and most sophisticated systems in the world used for deep space communications. For more detailed information on this contract, please refer to the press release dated August 4, 2009.
"We are very pleased to have concluded negotiations and to continue the development of this third antenna system which started in early August. The contract is scheduled for completion in mid-2012 and will provide a substantial base of revenue for SED over the next two years," said Ray Basler, President and CEO of Calian.
The contract was made possible by the Canada-ESA Cooperation Program, managed by the Canadian Space Agency from its headquarters in Saint-Hubert, Quebec. The Program enables Canadian companies to bid for and obtain technology development contracts from ESA, and to participate in major European space projects. Canada is the only non-European country to participate directly in ESA programs.
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.