Canada's MDA Corp. Awaiting U.S. Government's Return from 'Capex Holiday'

摘要

Canada's MDA Corp., which in 2012 spent $1 billion buying U.S. commercial satellite manufacturer Space Systems/Loral (SSL), on Feb. 25 said it reduced its debt in 2013 and will now turn its focus to growth including acquisitions. Richmond, British Columbia-based MDA, in an apparent demonstration of its intentions, spent 2.7 million Canadian dollars ($2.5 million) in 2013 performing due diligence on an unidentified acquisition target, the company said in its Feb. 25 annual report. The transaction was later abandoned. In a conference call with investors, MDA Chief Executive Daniel E. Friedmann said the company's current focus is to "build up our resume" to prepare for the time when the U.S. government returns to the market to replace existing orbital systems.