CAMBRIDGE, ON, Oct. 24, 2013 /CNW/ - COM DEV International Ltd.
(TSX:CDV), a leading manufacturer of space hardware subsystems, today
announced that one of its customers has exercised options for
additional equipment valued at over $15 million on a previously
announced contract. The initial multi-satellite award, which was
announced on September 4, 2012, was valued at $14 million, with the
potential to increase to $26 million if all options were exercised by
the customer. The options now exercised by the customer, total over
$15 million, and bring the aggregate value of work won on this
multi-satellite contract to over $30 million. COM DEV will provide L,
C & Ku Band filters, multiplexers, switches and microwave components,
with work being performed in COM DEV facilities in Cambridge and El
Segundo. Delivery will be complete by October 2014
"This additional work allows us to further leverage our lean
manufacturing capacity," said Mike Williams, President of COM DEV
International Products. "It also presents an excellent opportunity to
utilize the design capability and manufacturing capacity of our El
Segundo facility in the commercial marketplace."
About COM DEV
COM DEV International Ltd. (www.comdevintl.com) is a leading global designer and manufacturer of space hardware
subsystems. With facilities in Canada, the United Kingdom and the
United States, COM DEV manufactures advanced products and subsystems
that are sold to major satellite prime contractors for use in
communications, space science, remote sensing and military satellites.
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.
SOURCE: Com Dev International Ltd.
For further information:
Chief Financial Officer
Tel: (519) 622-2300 ext. 2826
Tel: (416) 815-0700 ext. 290