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ATCO Ltd.
(MENAFN- Baystreet) 10:00 AM EST - ATCO Ltd. : Announced that the Government of Canada has awarded a joint venture between ATCO Frontec Ltd., and Inuvialuit Development Corporation (IDC), a two-year contract valued at $48.4 million to design, build, install and operate a new radar defence system in the Northwest Territories. Under the terms of the joint venture agreement, IDC holds 51% ownership, while ATCO holds 49%. The Polar Over-the-Horizon Radar (POTHR) system will use technology that can detect targets at long ranges, typically hundreds to thousands of kilometres, beyond the typical radar horizon. ATCO Ltd.
shares T.X are trading down $0.45 at $49.96.
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