Financial Wire

MDA Space Up In US Premarket As Contracted By Airbus For Repeat Order of Antennas For OneWeb Constellation Extension

-- MDA Space (TSX and NYSE: MDA), a provider of advanced technology and services to the rapidly expanding global space industry, was at last look up 1.3% in US premarket trade Monday after saying it has been selected by Airbus to design and build more than 880 Ka-band steerable antennas and 440 Ku-band user replacement antennas for the OneWeb low Earth orbit (LEO) constellation owned by the global operator Eutelsat. No financial details were given.

In a statement MDA added this award follows an initial order to supply close to 2,000 antennas to the constellation, the second largest in lower Earth orbit with approximately 650 satellites, given to MDA Space by OneWeb in 2016.

Shares in MDA were down in both Canada and the United States last Friday, albeit from 52 week high levels in both cases.

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