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Canadian Space Company MDA Ltd. to Manufacture Satellites, Saving $2 Billion

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Telesat Corp. shares soared 50% after it tapped MDA Ltd. to build satellites for its Lightspeed Low Earth Orbit program. Find out more.

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Canadian space company MDA Ltd., whose shares also took off in trading on Aug. 11, will be the primary partner to manufacture the satellites resulting in “approximately US$2 billion in anticipated capital savings,” Telesat said in a press release. French-Italian manufacturer Thales Alenia Space was initially tapped to build the satellites and provide other infrastructure at a cost of US$5 billion.

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