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.
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