For immediate release: April 11, 2002
MDA Acquires Small Robotic Mining CompanyRichmond, B.C. - MacDonald, Dettwiler and Associates Ltd. (TSX: MDA) announced today that it has acquired the assets of Automated Mining Systems (AMS) of Aurora, Ontario -- a supplier of electronic products designed to enable robotic operation of underground mining equipment.
This acquisition brings MDAs robotics and software technology together with AMS experience, customers, and product, to create a business opportunity in the mining industry.
AMS has considerable expertise in underground mining telerobotic systems. The company reports annual revenue of $1.1 million, and has contracts with Inco in Canada and Kali und Salz in Germany. AMS is focused exclusively on the business of mine automation, specifically in the supply of systems for remote operation (from the surface) of underground mobile production equipment.
"Our strength in autonomous controls, systems integration and imaging will help to build AMS's market penetration," said Mag Iskander, Vice President and General Manager of MD Robotics, makers of the Canadarm and Canadarm2.
MDA will pay net cash purchase consideration of $225,000 to acquire AMS. Other future payments are possible, and contingent on certain financial targets. The transaction is expected to be completed next month.
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