Calian Strengthens Nuclear Capability with Acquisition of MDA Ltd. Nuclear Assets
OTTAWA, March 05, 2024 (GLOBE NEWSWIRE) -- Calian Group Ltd. (TSX: CGY), a diverse products and services company providing innovative healthcare, communications, learning and cybersecurity solutions, and MDA Ltd (TSX:MDA), a trusted global mission partner, have completed a transaction in which Calian has purchased assets associated with MDA’s nuclear services.
MDA has provided professional services to the Canadian nuclear industry for more than 30 years, supported by a highly specialized team of engineers delivering complex project planning and management for large nuclear outages and refurbishment projects, including experience in nuclear outage tooling. MDA’s nuclear team will be integrated into Calian’s existing Nuclear business within its Advanced Technologies segment.
“The MDA Nuclear team will add new capabilities and services to Calian’s existing nuclear business,” says Kevin Ford, CEO, Calian. “The Calian Nuclear team is growing, with new projects and opportunities across Canada and globally, and we’re thrilled to accelerate our growth through this powerful addition to our team.”
Calian Nuclear has been serving the Canadian and international markets for over 25 years. Calian is invested in the future of nuclear power as a clean energy source and a method of addressing climate change. The addition of MDA’s nuclear team to Calian will create strong synergies, including the ability to better serve their mutual client, Bruce Power. Additionally, Calian Nuclear can better support operations of existing nuclear facilities and refurbishments of the existing facilities.
“MDA’s nuclear team has deep expertise and a long history supporting nuclear power generation operators. We are pleased to reach this agreement with Calian and are confident the transaction will ensure continued strong support for customers and the long-term success of that team,” said Mike Greenley, CEO, MDA. “I would like to thank all of MDA’s nuclear employees for their commitment and contributions, and I wish them continued success at Calian.”
Completion of this acquisition is effective immediately.
About Calian
We keep the world moving forward. Calian® helps people communicate, innovate, learn, stay safe and lead healthy lives with confidence. Every day, our employees live our values of customer-centricity, integrity, innovation, respect and teamwork to engineer reliable solutions that solve complex problems. That’s Confidence. Engineered. A stable and growing company for 40 years, we are headquartered in Ottawa with offices and projects spanning North American and international markets. Visit calian.com to learn about innovative healthcare, communications, learning and cybersecurity solutions.
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ABOUT MDA
Serving the world from its Canadian home and global offices, MDA (TSX:MDA) is an international space mission partner and a robotics, satellite systems and geointelligence pioneer with a 50-year story of firsts on and above the Earth. With over 3,000 employees across Canada, the US and the UK, MDA is leading the charge towards viable Moon colonies, enhanced Earth observation, communication in a hyper-connected world, and more. With a track record of making space ambitions come true, MDA enables highly skilled people to continually push boundaries, tackle big challenges, and imagine solutions that inspire and endure to change the world for the better, on the ground and in the stars. For more information, please visit MDA's website at .
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DISCLAIMER
Certain information included in this press release 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. Such statements are generally accompanied by words such as “intend”, “anticipate”, “believe”, “estimate”, “expect” or similar statements. Factors which could cause results or events to differ from current expectations include, among other things: the impact of price competition; scarce number of qualified professionals; the impact of rapid technological and market change; loss of business or credit risk with major customers; technical risks on fixed price projects; general industry and market conditions and growth rates; international growth and global economic conditions, and including 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, please see the Company’s most recent annual report and other 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.
