COM DEV Wins $65 Million Commercial Contract
CAMBRIDGE, ON, Oct. 10, 2013 /CNW/ - COM DEV International Ltd. (TSX:CDV), a leading manufacturer of space hardware subsystems, today announced that it has received its largest commercial award ever. This major contract is in excess of $65 million to deliver C, Ku-band and Ka-band multiplexers, switches and microwave components for multiple satellites which will be part of a global network of communication satellites. The initial funding release, in excess of $38 million, is to cover procurement activities for these satellites as well as engineering and manufacturing activities for the first satellite to be delivered. Work will be ongoing until 2018, and will be carried out at the Company's facilities in Cambridge, Ontario and El Segundo, California.
"COM DEV is pleased to support our longstanding customer on this multi-satellite program," said Mike Williams, President of COM DEV International Products."We are happy that this relationship has allowed us to provide a technically optimized and cost-effective solution that will enhance our leadership in the supply of passive microwave devices for the communication satellite market."
About COM DEV
COM DEV International Ltd. (www.comdevintl.com) is a leading global provider of space hardware and services. The company has a staff of 1,300, annual revenues of $208 million, and facilities in Canada, the United Kingdom and the United States. COM DEV designs manufactures, and integrates advanced products, subsystems and microsatellites that are sold to major satellite prime contractors, government agencies and satellite operators, for use in communications, space science, remote sensing and defense applications. The company has won contracts to supply its equipment on over 900 spacecraft. COM DEV's majority-owned subsidiary, exactEarth Ltd., provides satellite data services for global maritime surveillance.
This news release may contain certain forward-looking statements that involve risks and uncertainties. Actual results may differ materially from results indicated in any forward-looking statements. The Company cautions that, among other things, in view of the rapid changes in communications markets and technologies, and other risks including the cost and market acceptance of the Company's new products, the level of individual customer procurements and competitive product offerings and pricing, and general economic circumstances, the Company's business prospects may be materially different from forward-looking statements made by the Company.
The triangular logo and the word COM DEV are each registered trademarks and the property of COM DEV Ltd. All rights reserved.
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