CAMBRIDGE, ON, Sept. 4, 2012 /CNW/ - COM DEV International Ltd.
(TSX:CDV), a leading manufacturer of space hardware subsystems, today
announced that it has been awarded an Authority to Proceed (ATP)
contract to begin work on equipment for two commercial communications
satellites, with options for two additional satellites. The ATP, which
covers preliminary engineering and materials procurement, is valued at
$5 million. The full contract value is expected to be in excess of $14
million, with the potential to increase to more than $26 million if the
customer exercises all options. COM DEV will provide C and Ku band
multiplexers, switches and microwave components. The contract is
expected to be fully executed by the end of October, 2012, with
delivery scheduled for November, 2013.
"It is exciting to win another multi-satellite contract," said Mike
Williams, President of COM DEV International Products. "It is further
evidence that we have a very effective program for developing high
performing, low cost products that match the needs of the demanding
About COM DEV
COM DEV International Ltd. (www.comdevintl.com) is a leading global provider of space hardware and services. With
facilities in Canada, the United Kingdom and the United States, COM DEV
manufactures advanced 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. COM DEV's majority-owned subsidiary, exactEarth
Ltd., provides satellite data services.
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
The Equicom Group
Tel: (416) 815-0700 ext. 261