MDS hit by Russia sanctions
August 1, 2014
By Chris Forrester
Canada-based MDS Corp, which is famous for supplying its ‘Canadarm’ remote arm on the USA’s Space Shuttles, is likely to be hit by Canada’s tough ban on dealing with Russia.
Canada has already cancelled the sale of a small maritime surveillance satellite, and the ongoing crisis is expected to cost MDA around $50 million because of slow payments from the Ukraine for a $250 million satellite ordered by the Ukrainian government from MDA.
MDA also owns Space Systems/Loral of Palo Alto, California, and it too could be affected if further sanctions are applied on firms dealing with Russia.