Maxar Statement on COVID-19
March 11 2020 - 6:00AM
Business Wire
No material impact to date to delivery of
backlog, revenue, supply chain; all facilities operational
Maxar Technologies (NYSE:MAXR) (TSX:MAXR), a trusted partner and
innovator in Earth Intelligence and Space Infrastructure, is
closely monitoring and proactively mitigating a number of risks
related to the Coronavirus (COVID-19), and is following the
guidance of the World Health Organization, Centers for Disease
Control and other government agencies. The health and safety of our
employees, their families, customers, suppliers, and our
communities is critical to us.
We are watching the timing of new awards carefully for any
effects of the COVID-19. However, to date there has been no
material impact to delivery of Maxar’s backlog or revenue because
of COVID-19.
All of Maxar’s operations remain open and the Company has
business continuity plans for all sites. While Maxar has employees
in many countries, we do not have manufacturing or other critical
operations in any locations currently designated as CDC Level 2 or
3 risk areas.
In our Space Infrastructure business, no supply chain
interruptions have occurred to date, and Maxar remains in close
coordination with customers on potential risks and mitigations. We
have five suppliers in China for our Space Infrastructure business
that we are closely monitoring for potential impacts, but there
have been no near-term impacts indicated to date, as the vast
majority of our related work is in later stages of production and
is not dependent on these suppliers. At this time, we are unaware
of any downstream disruption to our supply chain attributable to
other suppliers that source raw materials and subcomponents from
CDC Level 2 or 3 regions. Out of an abundance of caution, visits
with suppliers and customers in affected countries have been
suspended in favor of virtual and electronic communication.
In our Earth Intelligence business, we have had no significant
disruptions to any of our offices around the world, and are
maintaining operational Service Level Agreements and meeting
customer obligations.
The acquisition of MDA by a consortium led by Northern Private
Capital continues to progress through the regulatory approval
process, with close of the transaction expected in the spring or
early summer as previously indicated. The closing is not subject to
any financing contingency, and the definitive agreement defines
material adverse effect in a customary way that excludes both
general economic, financial and capital market conditions, and acts
of God and other force majeure events.
About Maxar
Maxar is a trusted partner and innovator in Earth intelligence
and space infrastructure. We deliver disruptive value to government
and commercial customers to help them monitor, understand and
navigate our changing planet; deliver global broadband
communications; and explore and advance the use of space. Our
unique approach combines decades of deep mission understanding and
a proven commercial and defense foundation to deploy solutions and
deliver insights with unrivaled speed, scale and cost
effectiveness. Maxar’s 5,800 team members in 30 global locations
are inspired to harness the potential of space to help our
customers create 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/20200311005229/en/
Investor Relations Contact: Jason Gursky Maxar VP
Investor Relations 1-303-684-2207 jason.gursky@maxar.com
Media Contact: Turner Brinton Maxar Media Relations
1-303-684-4545 turner.brinton@maxar.com
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