Maxar Technologies To Receive Full Insurance Payout for WorldView-4 Satellite Loss
May 03 2019 - 7:00AM
Business Wire
Maxar Technologies (NYSE:MAXR) (TSX:MAXR), a global technology
innovator powering the new space economy, today announced that its
insurance carriers have accepted the company’s $183 million claim
for loss arising from the WorldView-4 satellite on-orbit failure,
and have agreed to pay the company that full amount under their
insurance policies.
Insurance proceeds have already been received from several
insurers and full payment is expected to be delivered within 30
days. Maxar will use the proceeds to invest in its pre-existing
capital priorities, including the development of its innovative
WorldView Legion constellation.
The operations of DigitalGlobe, SSL and Radiant Solutions were
unified under the Maxar brand in February; MDA continues to operate
as an independent business unit within the Maxar organization.
About Maxar Technologies
As a global leader of advanced space technology solutions, Maxar
is at the nexus of the new space economy, developing and sustaining
the infrastructure and delivering the information, services,
systems that unlock the promise of space for commercial and
government markets. The operations of DigitalGlobe, SSL and Radiant
Solutions were unified under the Maxar brand in February; MDA
continues to operate as an independent business unit within the
Maxar organization. As a trusted partner with 5,900 employees in
over 30 global locations, Maxar provides vertically integrated
capabilities and expertise including satellites, Earth imagery,
robotics, geospatial data and analytics to help customers
anticipate and address their most complex mission-critical
challenges with confidence. Every day, billions of people rely on
Maxar to communicate, share information and data, and deliver
insights that Build a Better World. Maxar trades on the New York
Stock Exchange and Toronto Stock Exchange as MAXR. For more
information, visit www.maxar.com.
Forward-Looking Statements
Certain statements and other information included in this
release constitute "forward-looking information" or
"forward-looking statements" (collectively, "forward-looking
statements") under applicable securities laws. Statements including
words such as "may", "will", "could", "should", "would", "plan",
"potential", "intend", "anticipate", "believe", "estimate" or
"expect" and other words, terms and phrases of similar meaning are
often intended to identify forward-looking statements, although not
all forward-looking statements contain these identifying words.
Forward-looking statements involve estimates, expectations,
projections, goals, forecasts, assumptions, risks and
uncertainties, as well as other statements referring to or
including forward-looking information included in this
presentation.
Forward-looking statements are subject to various risks and
uncertainties which could cause actual results to differ materially
from the anticipated results or expectations expressed in this
presentation. As a result, although management of the Company
believes that the expectations and assumptions on which such
forward-looking statements are based are reasonable, undue reliance
should not be placed on the forward-looking statements because the
Company can give no assurance that they will prove to be correct.
The risks that could cause actual results to differ materially from
current expectations include, but are not limited to, the risk
factors and other disclosures about the Company and its business
included in the Company's continuous disclosure
materials filed from time to time with U.S. securities and Canadian
regulatory authorities, which are available online under the
Company's EDGAR profile at www.sec.gov, under the Company's
SEDAR profile at www.sedar.com or on the Company's
website at www.maxar.com.
The forward-looking statements contained in this release are
expressly qualified in their entirety by the foregoing cautionary
statements. All such forward-looking statements are based upon data
available as of the date of this presentation or other specified
date and speak only as of such date. The Company disclaims any
intention or obligation to update or revise any forward-looking
statements in this presentation as a result of new information or
future events, except as may be required under applicable
securities legislation.
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version on businesswire.com: https://www.businesswire.com/news/home/20190503005015/en/
Investor Relations Contact:Jason GurskyMaxar VP Investor
Relations1-303-684-2207jason.gursky@maxar.comorMedia
Contact:Turner BrintonMaxar Media
Relations1-303-684-4545turner.brinton@maxar.com
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